🥇 Gold Prepares For A Fresh Rise To New All-Time High ($2,177)

5 mar 2023

Gold had a small correction in February that ended exactly at EMA50, classic resistance level turned support, now tested and so far holds as we have a strong bounce with a full-green candle.

This type of chart setup can lead to a fresh rise with the target being set at a new All-Time High, $2,177 to be specific.

This would be the 3rd wave and after a complex correction additional growth is possible as a 5th wave.

Gold Spot (XAUUSD) is looking good on the weekly timeframe.

• The RSI is very strong, 55.94.
  
• MACD on the bullish zone with green histogram.
  

The SPX and DJI ended Friday on a positive note and Bitcoin also is really strong... Let's see how it goes.

Namaste.