Gold is trading around $4,025 within an uptrend channel formed on October 27th, reaching resistance levels around the 6/8 Murray level.
Should the price fall to the 21SMA zone located around 3,982, we could expect a strong recovery, potentially reaching the top of the uptrend channel around 4,085.
The Eagle indicator is showing a positive signal, so we expect gold to continue its rise next week, and it could reach the 7/8 Murray level around 4,218.
It's worth noting that gold left a gap around 4,105 earlier this week. Therefore, any pullback in gold, while the price remains above the 200EMA at 3,950, will be seen as a buying opportunity.
