Gold Prices Surge: What’s Next After the Latest Breakout ?

• The price is in a strong uptrend, with consistent higher highs and higher lows.
  
• The recent breakout above 2,800 confirms bullish momentum.
  
• Support: Around 2,720 (previous swing high) and 2,600 (lower Bollinger Band).
  
• Resistance: Current high at 2,853.2—watch for potential pullbacks.
  
• The price is near the upper Bollinger Band, suggesting a strong bullish move but also a possibility of short-term consolidation or pullback.
  
• Increased volume accompanies the breakout, confirming strong buying pressure.
  
• High volume spikes during upward moves indicate institutional participation.
  
• Bullish Case: If momentum continues, price could test 2,900 and potentially 3,000.
  
• Bearish Case: A short-term pullback to 2,750–2,720 before another move higher.