Gold Breakout Alert: Neal Bhai said that spot gold is currently near an important breakout level of $4355. He explained that gold must close above $4355 to confirm a strong upward move. Without a clear closing above this level, gold prices may continue to move sideways.
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Technical Analysis
Gold price is showing strength above the important support level of $4,355.00. Traders can look for buying opportunities on small corrections, as long as the price stays above this level.
If Gold holds above $4,355.00, it gives a clear Buy Signal. The expected upside targets are $4,404.00, $4,480.00, $4,515.00, and $4,550.00 in the near term.
To manage risk, keep a Stop Loss below $4,200.00.
On the bigger picture, Gold still has strong momentum, and the ultimate long-term target remains $4,807.
Disclaimer
This article is intended for educational purposes only. The views and opinions expressed are those of individual analysts or brokerage firms and do not represent the views of GoldSilverReports.com. Investors are strongly advised to consult certified financial experts before making any investment or trading decisions.
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