Ascending Triangle on Gold Leads to Bullish Surge: New Highs in Sight

A very promising setup is unfolding on the GOLD chart. 

Over the past few weeks, GOLD has been forming an ascending triangle pattern, with a blue uptrend line serving as support and a key resistance level at $2,480, marked by the orange horizontal line. As is typical with ascending triangles, the price broke out to the upside in mid-August. On August 22nd, the price retested the breakout level as new support, and the test was successful, with buyers stepping in and pushing the price significantly higher.

Today, GOLD is experiencing a strong bullish session, with the price continuing its upward trajectory. The momentum suggests that new long-term highs could be on the horizon soon. This breakout and successful retest of support are strong indicators that the bullish trend is likely to continue.

Source: https://www.axiory.com/analytics/technical-analysis/ascending-triangle-on-gold-leads-to-bullish-surge