Gold has dazzled investors by reaching a new all-time high! The precious metal, which has been closely following a descending channel pattern for a long time, broke through it with strength and gained momentum as determined buyers stepped in. In line with our expectations, gold has reached the 2740 resistance level, achieving yet another target.
However, after this strong rally, some short-term corrections might not come as a surprise. For those closely monitoring market fluctuations, the first key support level to watch is 2685. This region should be carefully followed to ensure the uptrend continues in a healthy manner.
This impressive rise in gold presents new opportunities for investors, while potential corrections could be seen as buying opportunities.
Resistances: 2740 / 2820 / 3000
Supports: 2628 / 2585 / 2527
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