XAU/USD : Strong Uptrend Nearing Key Resistance at $2,722

Uptrend Continuation: Gold is in a strong upward trend. The price has generally been above the 200-day moving average, indicating strength. Historically, when gold prices stay above such moving averages, it often signals continued bullish momentum.

Resistance Levels: The recent price action suggests that the gold price is testing a significant resistance near the $2,722 level. If the price breaks through this level with strong volume, it could signal further upside potential.

Previous Highs and Support: Gold had prior peaks in 2020 and 2022 at around $2,000 and $2,070, respectively. If the price were to pull back, those levels could act as support, but for now, the uptrend seems intact.

If the uptrend continues, gold could move higher towards new all-time highs, especially if it breaks the $2,722 level. Conservative targets could be $2,800 and $3,000 in the medium term if the current momentum holds.

However, a break below the moving average line (green) or a failure to hold above $2,700 might result in a correction, with support levels at $2,400 or $2,300.