Gold: Bulls Eyeing 3,800 and 3,900 Levels

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Gold: Bulls Eyeing 3,800 and 3,900 Levels

Gold has broken out strongly from the rising channel, showing strong bullish momentum.

The next target is around 3,800, which acts as resistance. If buyers keep control and break above, the next bigger target is near 3850 and 3,900.

As long as the price holds above the breakout zone (around 3,700), the outlook remains bullish.

A drop back below 3,700 could signal weakness and a possible pullback.

The reason for the increase is not clear; it's all old news.
Most likely, the news will come out later, in the same way we heard about the airstrike on Qatar by Israel.

You may find more details in the chart!
Thank you and Good Luck!