GOLD: A New Bull Market has Dawned with a Successful Breakout above 2900!
Hello everyone! Today i want to share some macro analysis with you!
1.
$Gold - main 2504(GCmain)$ $XAU/USD(XAUUSD.FOREX)$ Gold's brief bearish pullback has been largely confirmed to be over and the uptrend will be the dominant tone this week! A new bull market has dawned with a successful breakout above 2900!
In New York market, gold keeps buying trade, entering buying near 2910, with a short-term target locked in at 2930!!!Long-term target at new highs!
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2.
$Gold - main 2504(GCmain)$ Gold prices resumed their uptrend after two consecutive sessions of losses, following a downtrend that resulted in the price falling below 2900. however, buyers entered the market near 2830, pushing spot gold prices above $2850, fuelling the uptrend towards $2893.
If the gold price breaks above $2,900, the gold price may challenge the year-to-date high of 2954
A pullback in gold could see the gold price aiming for the 14 February low of $2,877, followed by the 12 February swing low of $2,864. However, unless gold prices fall below $2,800, the broader uptrend will remain intact.
Expect today's trading range to remain between 2870 and resistance at 2903!
Trading stays buy trade orientated!
Strategy:Buy:2878-2882 TP:2895-2898-2900 SL:2869
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