Gold (XAUUSD)Long
Trend Analysis on GOLD
The market has been in a significant uptrend in the last few days. GOLD should react to the supply zone of November's all-time highs. If not, it will break through and continue in an uptrend in the higher timeframes.
The market has three options:
1. Respect the supply zone drop for some points and create a chart pattern that indicates a new direction.
2. Consolidate and then find its direction.
3. Minor reaction from the supply zone and react impulsively to the market as it did the last days.
I believe that GOLD will rise to the all-time highs reached in 2020, 2022, and 2023. Fundamental analysis for GOLD is also great.
The market has three options:
1. Respect the supply zone drop for some points and create a chart pattern that indicates a new direction.
2. Consolidate and then find its direction.
3. Minor reaction from the supply zone and react impulsively to the market as it did the last days.
I believe that GOLD will rise to the all-time highs reached in 2020, 2022, and 2023. Fundamental analysis for GOLD is also great.
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