Gold prices are at all-time highs as traders eye deeper U.S. rate cuts. The gold price is exhibiting new positive movements, confirming the continuation of the bullish trend in the short and medium term.
Generally, the direction is uptrend
Uptrend Side: Gold prices have established a resistance at 2586. The price is currently attempting to break this level to reach a new high of 2600 and a more bullish volume of 2625.
Downtrend Side: The price should face a strong downward correction and then continue this decline to below 2553 with a 1D candle and under it 2331, which is an important level to confirm the downtrending.