XAUUSD
📊 Price Summary:
Low: 2951
High: 3498
Current Price (as of 3 May 2025): 3240
Pattern Identified: Flag and Pole, with potential breakout
Possible Pullback: To around 3175 before breakout
🧠 Technical Analysis View:
The flag and pole is a bullish continuation pattern, especially when the prior trend (the "pole") is steep and strong — which it is in this case (2951 → 3498).
A pullback to 3175 would represent a healthy retracement (~50% of the flag range), allowing the market to reset before a potential breakout.
🔍 Key Levels to Watch:
Support zone: 3175 – 3200 (watch for rejection or consolidation here)
Resistance (breakout zone): ~3255–3275 (if broken with volume, confirms breakout)
Target after breakout:
Measured move projection = Height of pole (~547 pts) → 3498 + 547 ≈ ~4045 (longer-term target if clean breakout)
Conservative target: 3350–3450 area
⚠️ Risks:
If 3175 breaks down with volume, pattern might fail — watch next support near 3120–3100.
Gold often reacts to macroeconomic events, USD strength, and interest rates, so keep fundamentals in mind.
📊 Price Summary:
Low: 2951
High: 3498
Current Price (as of 3 May 2025): 3240
Pattern Identified: Flag and Pole, with potential breakout
Possible Pullback: To around 3175 before breakout
🧠 Technical Analysis View:
The flag and pole is a bullish continuation pattern, especially when the prior trend (the "pole") is steep and strong — which it is in this case (2951 → 3498).
A pullback to 3175 would represent a healthy retracement (~50% of the flag range), allowing the market to reset before a potential breakout.
🔍 Key Levels to Watch:
Support zone: 3175 – 3200 (watch for rejection or consolidation here)
Resistance (breakout zone): ~3255–3275 (if broken with volume, confirms breakout)
Target after breakout:
Measured move projection = Height of pole (~547 pts) → 3498 + 547 ≈ ~4045 (longer-term target if clean breakout)
Conservative target: 3350–3450 area
⚠️ Risks:
If 3175 breaks down with volume, pattern might fail — watch next support near 3120–3100.
Gold often reacts to macroeconomic events, USD strength, and interest rates, so keep fundamentals in mind.
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.