XAUUSD : Strong price increase
Hello everyone, it's Brian! As we kick off the new week, gold continues its sharp ascent. Currently, the precious metal is trading around $2438 USD, up nearly 1% for the day.
Gold's bullish outlook remains favored and highly regarded, especially after successfully converting the $2380 resistance level into new support. With no signs of peaking just yet, the upward trend still benefits buyers.
Using the extended Fibonacci tool, the anticipated profit-taking level is set around the $2476 USD mark, corresponding to the 1.618 extension as previously analyzed.
Gold's bullish outlook remains favored and highly regarded, especially after successfully converting the $2380 resistance level into new support. With no signs of peaking just yet, the upward trend still benefits buyers.
Using the extended Fibonacci tool, the anticipated profit-taking level is set around the $2476 USD mark, corresponding to the 1.618 extension as previously analyzed.
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