@tanvirahmad2502, Price is moving up in an ascending channel, The price has also broken out of a bull flag and it's now finding support at 50EMA, there are price imbalances above that needs balancing and lastly Gold is bullish this time of the year.
tanvirahmad2502
⋅
@MULTIDIMENSIONALTRADER, but it doesn't cross the the high of the flag . So can't we say that it's a double top before falling?
MULTIDIMENSIONALTRADER
⋅
@tanvirahmad2502, Yes it's possible, this could be a fakeout. we could get the price dropping back into the bull flag. However, on Friday the price retraced due to end of month profit-taking and because it didn't drop below the consolidation zone of 1790 - 1810 where the price ranged for over two weeks it looks like this zone will act as strong support now. Also its a fresh month on Monday with fresh capital going into the market. For now, there are more reasons for price to go up, this does not mean we can't get retracements, it's still possible for the price to drop to 1790 again, it's just there are more reasons for it to go up.