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Gold Breaks Free: Technical Breakout Targets $2,800

Gold has emerged from its December wedge pattern with strong bullish momentum following the U.S. presidential transition.

The precious metal has decisively broken above significant resistance at $2,721, marking an end to its recent period of indecision and stagnation.

Technical analysis, supported by MACD momentum indicators, suggests a healthy uptrend with $2,800 as the next major target.

While the long-term outlook remains uncertain and strong resistance may emerge at higher levels, traders are actively seeking entry opportunities on both daily and 4-hour timeframes during any potential pullbacks.

Original Source: Investing.com

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