📈 Breakout Alert
Gold just broke out of the key descending trendline that has acted as resistance since early May. This breakout confirms a shift in structure and opens the door for a new local high in the coming sessions.
📊 Technical Context
Strong reaction from the Bull OTE + POI zone around 3190-3230.
Reclaimed 50% Fib retracement from the last leg down.
Cleared the supply zone and trendline with momentum.
🌍 Macro Watch
If tariff tensions between Europe and the US resurface, we could see a faster flight to safe-haven assets like gold. Risk-off narrative = bullish fuel for XAU.
🎯 Next Target
Price now eyes the liquidity resting above the 3450-3550 zone. This area could act as a magnet before the next meaningful pause.
⚠️ Key Support
A clean retest of the broken trendline + 3320 area would be ideal to confirm the breakout structure.
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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.