Gold SMASHES New Highs—Are We Going Parabolic? 🚀

This is pure technical setup analysis, focusing on immediate price action and momentum indicators for $XAU.

The price action is screaming bullish with clear higher highs and higher lows confirming strong buying pressure. We just printed a massive new high at $4,553.96, validating the current momentum. Short-term MAs are perfectly stacked below price, acting as dynamic support for the uptrend. Volume confirmation on the latest surge shows serious buyer conviction. Expect continuation, though watch for a minor shakeout near the $4,600 psychological level before the next leg up. Trend is firmly long-biased.

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XAU
XAUUSDT
5,112.73
-7.37%