Long

Gold Price Analysis (XAU/USD) – Potential Bullish Breakout Setup

Gold shows a consolidation pattern forming within a symmetrical triangle. Price action is currently testing the lower support of this triangle. A potential bullish breakout is anticipated if price bounces from the minor demand zone and breaks above the triangle resistance. The upper resistance target lies near the $3320 level. Key support levels are highlighted at $3280 and $3260 Watch for confirmation signals near the breakout zone for potential long entries.

Note

Price Hits Resistance

Price Action: Gold successfully broke out of the symmetrical triangle and reached the projected resistance zone at $3,230, completing the bullish move.

Market Behavior: Price is showing signs of hesitation or consolidation near this resistance, indicating a potential reaction.

Next Steps:

If holding longs: Consider taking partial profit or moving stop-loss to break-even to secure gains.

Watch for reversal signals (e.g., bearish candlestick patterns) for a possible short-term pullback.

If breakout continues: A clean break above $3,220 with volume may open up room toward $3,240–3,260 zone.

Key Levels to Watch:

Resistancr $3230, next possible at $3,240–3,260

Support: Recent breakout level near $3,200–3,210

MollyRonaldFx

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MollyRonaldFx

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