Gold is gradually reinforcing its upward trend. On the daily chart, the Marlin oscillator has secured its position in positive territory and is attempting to push the price further away from the lower boundary of the price channel. The price has consolidated above the balance line and is preparing to challenge the resistance at the MACD line.
A consolidation above the MACD line (3410) will open the path to the target level of 3484. Surpassing this level may lead to a new all-time high near the target level of 3,530, at the projected point of contact with the upper boundary of the price channel, based on the measured move from February to March 2025.
On the H4 chart, the price has consolidated above the balance and MACD indicator lines. The Marlin oscillator's signal line is rising within the positive zone. The trend remains upward. We anticipate a continued, gradual rise in gold prices.
