Gold (XAU/USD) is currently extending its upward movement toward the next resistance level. This rally comes after the price completed a secondary trend phase, which previously showed signs of short-term consolidation or correction.
With the secondary trend now concluded, the market is beginning to form a new primary trend, indicating renewed bullish sentiment toward gold. This is further supported by consistent buying activity and the potential increase in demand for safe-haven assets amid ongoing global uncertainties.
As long as the price remains above key support levels and continues to form higher highs, the potential for further gains toward the next resistance zone remains strong. Traders and investors are advised to watch for additional technical confirmations before entering positions, in order to manage risk effectively in this dynamic market environment.
Trade Recommendation
BUY Entry: 3321
Take Profit: 3335
Stop Loss: 3300
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