Gold is on fire again, closing at $3,126.45 (+0.38%) and continuing to ride a steep uptrend supported by the 50-day SMA (2,925.58) and a well-respected ascending trendline.
🔹 MACD is trending higher with widening separation – bullish momentum is building again.
🔹 RSI just breached 75.80, putting gold deep into overbought territory.
🔹 No immediate resistance above – price is in discovery mode.
The trend is strong and healthy, but the overbought RSI suggests short-term pullbacks can't be ruled out. Still, buyers remain firmly in control above $3,000.
As long as the trendline holds, gold’s shine won’t fade.
-MW
🔹 MACD is trending higher with widening separation – bullish momentum is building again.
🔹 RSI just breached 75.80, putting gold deep into overbought territory.
🔹 No immediate resistance above – price is in discovery mode.
The trend is strong and healthy, but the overbought RSI suggests short-term pullbacks can't be ruled out. Still, buyers remain firmly in control above $3,000.
As long as the trendline holds, gold’s shine won’t fade.
-MW
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