Remains bullish, with price still trading within a well-defined ascending channel. However, as price approaches the upper boundary of the channel, a corrective move (pullback) is increasingly likely.
Probable Scenario:
After this sharp rally, price is expected to correct toward the key support zone. This area could provide a more favorable low-risk buying opportunity in line with the dominant trend. A bullish reaction from this support may pave the way for new all-time highs.
In the short term, this week’s FOMC meeting could have a significant impact on gold’s price action and may increase volatility.
$XAU The bullish trend remains intact, but chasing price at current levels is not recommended. Waiting for a pullback and confirmation around support levels would be the smarter strategy..#XAU
