🔹GOLD (XAU/USD) Technical Analysis – 1H Chart
▪️Market Structure
Gold has broken out of a consolidation phase and is now forming a clear bullish structure supported by an upward trendline. Price action shows strong momentum, with higher lows and sustained buying pressure.
▪️Key Levels
* Support Zone: $3,355-$3,360 This area has flipped from resistance to support after the breakout.
* 1st Target Zone: $3,371-$3,375 Currently being tested as minor resistance.
* Final Target Zone: $3,390-$3,405 Major resistance area; potential upside target if bullish momentum continues.
▪️Outlook & Scenarios
Price is currently reacting to the 1st target zone. A successful retest of the $3,360 support could offer bullish continuation toward the $3,400 area. Alternatively, a brief consolidation before the next leg up is also possible. The upward trendline provides structural support for buyers.
▪️Volume Insight
Volume expansion on the breakout adds confidence to the bullish setup, indicating strong interest from buyers.
▪️Bias: Bullish
Valid above $3,360, targeting $3,390-$3,405, with trendline and support confluence strengthening the case for long opportunities.
🔹Community Insight:
If you find this analysis helpful in your trading journey, feel free to share your thoughts or questions in the comments. Let’s work together to maintain a disciplined, technical approach to the markets.
▪️Follow for regular updates and trade setups.
▪️Market Structure
Gold has broken out of a consolidation phase and is now forming a clear bullish structure supported by an upward trendline. Price action shows strong momentum, with higher lows and sustained buying pressure.
▪️Key Levels
* Support Zone: $3,355-$3,360 This area has flipped from resistance to support after the breakout.
* 1st Target Zone: $3,371-$3,375 Currently being tested as minor resistance.
* Final Target Zone: $3,390-$3,405 Major resistance area; potential upside target if bullish momentum continues.
▪️Outlook & Scenarios
Price is currently reacting to the 1st target zone. A successful retest of the $3,360 support could offer bullish continuation toward the $3,400 area. Alternatively, a brief consolidation before the next leg up is also possible. The upward trendline provides structural support for buyers.
▪️Volume Insight
Volume expansion on the breakout adds confidence to the bullish setup, indicating strong interest from buyers.
▪️Bias: Bullish
Valid above $3,360, targeting $3,390-$3,405, with trendline and support confluence strengthening the case for long opportunities.
🔹Community Insight:
If you find this analysis helpful in your trading journey, feel free to share your thoughts or questions in the comments. Let’s work together to maintain a disciplined, technical approach to the markets.
▪️Follow for regular updates and trade setups.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.