GOLD REVIEW PART 1

Trend Context
The price is above the 200 EMA, suggesting a bullish bias in the broader trend. However, the proximity to resistance at 3,045 indicates potential short-term consolidation or pullback.

Interpretation

Bullish Case
- A decisive break above 3,045–3,048 could propel prices toward 3,064–3,080 (USD-side resistance levels).
- Sustained trading above the 200 EMA reinforces bullish sentiment.

Bearish Risks
- Failure to breach 3,045 may trigger profit-taking, pushing gold toward 3,020–3,000.
- A drop below 3,000 could signal a deeper correction to 2,982.668 (strong support).


Conclusion
Gold remains in a structurally bullish trend but faces immediate resistance at 3,045. Traders should monitor:
1. Breakout above 3,045 for confirmation of upward momentum.
2. Hold above 200 EMA (3,027.88) to maintain bullish bias.

A consolidation phase between 3,020–3,045 is likely in the short term, with directional bias dependent on the resolution of these key levels.