Gold is reasserting its uptrend following a strong bounce off confluence support around the 50-day moving average and trendline:
Uptrend Intact: Price continues to respect the rising trendline and 50-day SMA (~$3,235), which acted as a springboard for the latest push.
Momentum Shift: The MACD has turned higher again after cooling off through April-May, while RSI is climbing toward the 60 zone, a constructive sign.
Next Resistance: A move above $3,400 would expose the all-time high region near $3,460.
Structure: This appears to be a textbook continuation pattern—higher lows and resilience above the short-term MAs indicate buyers remain in control.
A break below ~$3,230 would neutralize the bullish structure, but for now, bulls look reenergized.
-MW
Uptrend Intact: Price continues to respect the rising trendline and 50-day SMA (~$3,235), which acted as a springboard for the latest push.
Momentum Shift: The MACD has turned higher again after cooling off through April-May, while RSI is climbing toward the 60 zone, a constructive sign.
Next Resistance: A move above $3,400 would expose the all-time high region near $3,460.
Structure: This appears to be a textbook continuation pattern—higher lows and resilience above the short-term MAs indicate buyers remain in control.
A break below ~$3,230 would neutralize the bullish structure, but for now, bulls look reenergized.
-MW
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