Gold (XAU/USD) is traded at $ 2,859.85, an increase of 0.62%, which reflects a strong bullish momentum. The price has comfortably surpassed the Pivot point at $ 2,844.12, indicating the continuous purchase of interest. Immediate resistance is $ 2,868.70 and can, if violated, free the road to $ 2,886.06.
On the other hand, support is noticed at $ 2,824.74, with a critical floor around $ 2,807.10, near the 50-day EMA, which offers dynamic support. The 200-day EMA for $ 2,754.27 reinforces the wider Bullish Trend.
In particular, the appearance of a “three white soldiers” pattern on the graph suggests persistent bullish sentiment, which may push the prices higher. However, a drop under $ 2,844.12 could cause a sharp sales pressure.