Gold's Rollercoaster: From 3167 ATH to 2950 Support–What's Next?

Since the beginning of the year, Gold has been on an impressive uptrend, gaining over 5000 pips, culminating with last week's ATH at 3167.
As I highlighted throughout last week's analyses, even though we're in a strong uptrend, the price was too far deviated from the mean, making a correction inevitable.

✅ Friday Recap:
After testing the resistance zone formed at 3135-3140, Gold dropped hard, closing the week 1000 pips lower from its peak during Friday's session.

📉 Recent Developments:
The correction continued yesterday, with Gold recently touching an important confluence support around 2950.

📈 What's Next?
I expect an upward movement and resumption of the uptrend, with targets at:
• 3050 zone 📌
• 3080 zone 📌

🎯 Plan:
Buy dips near support, aiming for the mentioned targets. The analysis would be negated if we see a clear break below 2950. 🚀

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交易進行

Gold needs to clear 3015-3020 zone to consider reversal towards 3080
Anyway, the trade from yesterday's N.Y session is running nicely with more than 500 pips profit and protective stop loss of +250 pips