Gold Soars as Bullish Momentum Holds, Targeting $4,500-$4,648
Gold prices continue to demonstrate exceptional strength as they advance above both the Daily Mean Price and the Weekly Mean Price, indicating that buyers remain firmly in control. The Variable Changing Price Momentum Indicator (VC PMI) confirms the bullish trend, identifying the market as remaining in a bullish expansion phase.
The VC PMI indicates that prices should continue to rise as long as they remain above the Daily Mean of 4430. This means traders should buy retracements rather than attempting to fade the trend.
Initial support lies at Buy 1 Daily (4399), followed by Buy 2 Daily (4342). These levels represent statistically significant demand zones where probability favors a return toward equilibrium.
The next objective is the Daily Sell 1 level near 4500, followed by Daily Sell 2 at 4518. Beyond the daily targets, the weekly algorithm projects Weekly Sell 1 at 4524, with Weekly Sell 2 at 4648 representing the extreme overbought level where profit-taking becomes increasingly probable.
According to VC PMI probability analysis, once prices reach these extreme supply zones, there is approximately a 90% probability of reversion from Sell 1 and as much as a 95% probability from Sell 2, assuming no major fundamental catalyst overrides technical conditions.