From a technical standpoint, a move beyond the $2,047-$2,048 resistance barrier, representing the weekly trading range's highest level, signals bullish momentum for traders. Furthermore, the emergence of a golden cross, with the 50-day Simple Moving Average (SMA) surpassing the 200-day SMA from below, adds support to the outlook for further upward movement. The prospects are further strengthened by the fact that oscillators on the daily chart are holding in positive territory.
Therefore, additional actions aimed at testing the next relevant resistance around the $2,072-$2,073 region appear distinct, suggesting a potential divergence where gold prices may target the reclaiming of the $2,100 mark.
Therefore, additional actions aimed at testing the next relevant resistance around the $2,072-$2,073 region appear distinct, suggesting a potential divergence where gold prices may target the reclaiming of the $2,100 mark.
