This 1-hour chart of Gold Spot (XAU/USD) illustrates a breakout above a key resistance zone around $3,060, previously acting as a strong barrier. The breakout is highlighted in yellow, indicating a bullish move. The price is now trading above this level, with a projected target of $3,090. The chart suggests a potential retracement before continuing higher, confirming support at the breakout zone. Traders may look for buying opportunities on pullbacks, anticipating further bullish momentum.
Note: This is not a trading signal, just my personal analysis based on current market trends.
Note: This is not a trading signal, just my personal analysis based on current market trends.
Trade closed: target reached
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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.