FX.co ★ XAU/USD, GOLD

Gold Daily Chart Analysis: The daily chart shows that the price broke above the strong level of 4091.58. The indicators show that the upward trend is still going strong. This could serve as a starting point for calculating the class of 4106.58 based on continued expansion. The bears will pull quotes south to 4086.58 if they begin to decline once more and go below 4106.58. I will wait for growth to reach this level as I wait for a turning movement to emerge. It may be a sell signal if support - level 4101.58 has been violated. Today, I employed Bollinger's lens, which is your method. On the weekly chart, there have been four rebounds from the trend line and the support line. I had expected growth over the resistance line, which pulled through earlier local highs. Gold prices rose to a local maximum of 4116.58, and further expansion is predicted through 4105.58. We ought to continue expanding till we get to roughly 4117.58. Until we reach roughly 4124.58, we will likely see signs that this strategy may begin to deteriorate. Unfortunately, I have not seen any yet. As a result, I will either be able to maintain or grow my current employment. I think the pair will continue to rise until it reaches the top boundary of the channel, which is 4105.58, because the price is inside the ascending channel. As a result, the price of gold will keep rising until it reaches 4141.58, the top border of this channel.