**Gold (XAU/USD) | 4H Chart | Bullish Bias**
Gold continues to shine as it builds a solid bullish structure on the 4H timeframe. After a healthy pullback, price has bounced back strongly, holding above key support zones and aiming higher.
**What's happening now?**
- Price is forming *higher highs and higher lows*, respecting the bullish trendline.
- Strong demand kicked in around the *$2,950* zone — a key level to watch for potential pullbacks.
- The next resistance lies near *$3,050*, a psychological and technical level that could act as the next target for buyers.
**Technical Confluence:**
- *Fibonacci retracement* aligns with recent pullbacks around $2,950 – offering strong support.
- *RSI* is hovering above 50, confirming ongoing bullish momentum.
- Price remains above the *50-period EMA*, supporting the uptrend.
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**Bullish Scenario:**
If gold holds above $2,950 and breaks above $3,010 with volume, we could see a push toward *$3,050–$3,070* in the short term.
**Invalidation:**
A confirmed break below *$2,940* could weaken the bullish outlook and shift momentum.
---
**Educational Insight:**
In trending markets, pullbacks to key zones like Fibonacci levels or prior support often offer higher-probability trades. Instead of chasing breakouts, look for *retests* with confirmation.
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What’s your take on gold right now? Are we headed toward new highs or due for a pause?
Gold continues to shine as it builds a solid bullish structure on the 4H timeframe. After a healthy pullback, price has bounced back strongly, holding above key support zones and aiming higher.
**What's happening now?**
- Price is forming *higher highs and higher lows*, respecting the bullish trendline.
- Strong demand kicked in around the *$2,950* zone — a key level to watch for potential pullbacks.
- The next resistance lies near *$3,050*, a psychological and technical level that could act as the next target for buyers.
**Technical Confluence:**
- *Fibonacci retracement* aligns with recent pullbacks around $2,950 – offering strong support.
- *RSI* is hovering above 50, confirming ongoing bullish momentum.
- Price remains above the *50-period EMA*, supporting the uptrend.
---
**Bullish Scenario:**
If gold holds above $2,950 and breaks above $3,010 with volume, we could see a push toward *$3,050–$3,070* in the short term.
**Invalidation:**
A confirmed break below *$2,940* could weaken the bullish outlook and shift momentum.
---
**Educational Insight:**
In trending markets, pullbacks to key zones like Fibonacci levels or prior support often offer higher-probability trades. Instead of chasing breakouts, look for *retests* with confirmation.
---
What’s your take on gold right now? Are we headed toward new highs or due for a pause?
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.
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.