Gold enthusiasts today are enjoying profits, but the situation is becoming increasingly interesting at this level.
$PAXG just broke through a local resistance near 5,300 and is holding up quite well. If you look at the last candlestick body, we see a solid upward staircase pattern. Volume hasn't exploded yet, but buying pressure on the order book ( of more than 65%) indicates that people are positioning themselves for a bigger breakout. I am closely monitoring the 5,450 level. If we turn it into support, we might see a rise toward the previous high around 5,600. If rejected here, I will look for a bounce from the 5,180 zone to keep the trend alive. Just stay patient and watch the market. #USIsraelStrikesIranBTCPlunges
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Gold enthusiasts today are enjoying profits, but the situation is becoming increasingly interesting at this level.
$PAXG just broke through a local resistance near 5,300 and is holding up quite well. If you look at the last candlestick body, we see a solid upward staircase pattern. Volume hasn't exploded yet, but buying pressure on the order book ( of more than 65%) indicates that people are positioning themselves for a bigger breakout.
I am closely monitoring the 5,450 level. If we turn it into support, we might see a rise toward the previous high around 5,600. If rejected here, I will look for a bounce from the 5,180 zone to keep the trend alive.
Just stay patient and watch the market.
#USIsraelStrikesIranBTCPlunges