GOLD: Potential Breakout from Range Sets the Stage for a Long

Yesterday, the price of gold concluded the trading session in a range-bound pattern, indicating a lack of clear directional momentum. However, today there are indications that the price might experience a pullback towards the previous support level and potentially break out of the established range area. This breakout could potentially lead to a bullish setup aligned with the prevailing uptrend. As a result, we are currently focused on identifying a long setup for gold.

Trade closed: target reached

Comment:

Continuing from our previous successful analysis, our outlook for XAUUSD (GOLD) remains firmly bullish, with a fresh uptrend impulse anticipated to propel the price towards the $2000 mark.