Gold has maintained a bullish structure, which has increased the momentum of its rising trend, after having made a full recovery from its lows and having taken a break over the 3,670 mark. At the moment, the price is consolidating just below the resistance zone, but it is still being directed by the upward channel. Keeping a buy position over 3,670 could allow gold to continue its ascent toward 3,715, which is in line with the forecasted resistance level. The strong impulse limb and supporting trendline suggest that the bulls’ momentum will likely continue until key support is broken.
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