GOLD (XAUUSD): Detailed Technical Analysis Ahead of US PCE Data
⚠️Gold is currently facing an important daily resistance level near its all-time high. Despite this, the price action formed a bullish accumulation pattern, with three equal highs and higher lows.
A potential breakout above the highlighted blue resistance area could be imminent, and a 4-hour candle close above it would be a significant bullish indicator, targeting the $2550 psychological level.
However, a further corrective move is also possible, and I'll provide updates if bearish signs emerge.
A potential breakout above the highlighted blue resistance area could be imminent, and a 4-hour candle close above it would be a significant bullish indicator, targeting the $2550 psychological level.
However, a further corrective move is also possible, and I'll provide updates if bearish signs emerge.
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