XAUUSD – Bullish Continuation Ahead?

is currently trading within an ascending channel, with price recently bouncing off the trendline support after a corrective move. This rebound indicates that buyers are stepping in, maintaining the bullish structure within the channel.

If the bullish momentum continues, we could see a move toward $3,450, aligning with a key resistance level within the channel. This level may act as a potential short-term target before any possible reaction from sellers. A clear breakout above the resistance zone could open the door for the next bullish leg.

However, if the price fails to hold this support level and breaks below it with momentum, the bullish outlook could be invalidated, potentially signaling the next downward trend. Traders should watch for bullish confirmation signals such as higher lows, strong bullish candles, or increasing volume before considering long positions.

If you agree with this outlook or have any additional insights, feel free to share your thoughts!

LucasMgoldview

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LucasMgoldview

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