Gold Continues to Trend Upwards
Gold ended Friday's trading session on a positive note following the release of key economic data from the Non-Farm Payroll report, which indicated weak data for the USD, gold prices surged immediately after breaking through the 236x resistance zone.
Observing the H4 chart, we can clearly see the upward trend in gold prices. There is a notable double bottom pattern, targeting the 2,40x level. However, achieving this target will require support from sellers to push the price up to that range.
The uptrend is expected to continue this week, but we should wait for a slight pullback for a retest before the price makes a strong upward move.
Observing the H4 chart, we can clearly see the upward trend in gold prices. There is a notable double bottom pattern, targeting the 2,40x level. However, achieving this target will require support from sellers to push the price up to that range.
The uptrend is expected to continue this week, but we should wait for a slight pullback for a retest before the price makes a strong upward move.
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