GOLD's Bullish Momentum Favors Long Position

18. Apr. 2023

The ongoing bullish momentum of Gold has persisted, having undergone a temporary pullback in the previous session while remaining supported by the dynamic trendline. This level of support has served to facilitate the emergence of a new upward impulse, resulting in a further expansion of the price. In view of this, our current assessment indicates a favorable environment for maintaining our long position in Gold. However, it is important to acknowledge that a potential alternative scenario may come into play if the price breaches the dynamic trendline, possibly triggering a bearish shift and allowing for the possibility of a subsequent price drop.