Alex Bobrov
⬤ Gold just posted another breakout, pushing higher inside a well-defined rising channel. The chart shows prices hitting new highs near the channel's upper edge, confirming the uptrend is still going strong. Even though technical indicators are screaming overbought, the rally keeps rolling.
⬤ The price pattern tells a clear story—higher highs and higher lows stacking up from October through late January. Recent candles show solid bullish momentum with barely any pullbacks after brief pauses. When price broke above the upper channel resistance, it signaled renewed strength rather than exhaustion. There's no sign of reversal forming on the daily chart.
⬤ What's striking is how gold keeps marching higher instead of pulling back toward the channel's midline like it normally would. Price is hugging the upper range, which is classic behavior during strong momentum phases—not distribution. The absence of big red candles tells you sellers aren't showing up yet.
⬤ This matters because when gold sustains breakouts like this, it shifts broader market sentiment toward hard assets. The fact that momentum keeps pushing higher despite overbought conditions shows real trend strength, though it also means the market's getting more sensitive to any shift in risk appetite. As long as price holds inside the rising channel, the technical picture still points to continuation rather than an imminent top.
Alex Bobrov
