This chart shows a potential bullish flag pattern forming on the daily timeframe for Gold Spot (XAU/USD). The pattern is composed of a strong flagpole (an impulsive upward move), followed by a descending consolidation channel, which represents a correction phase.
The price is currently moving within the flag’s range. A breakout above the flag’s resistance trendline would confirm the bullish continuation pattern, potentially targeting levels above 3,500 USD. Until a confirmed breakout occurs, price action may continue to consolidate within the flag structure.
Flagpole: Sharp upward rally from mid-March to mid-April 2025
Correction: Downward sloping parallel channel
Breakout Level: Around 3,300–3,320 USD
Volume: Decreasing during the correction, which aligns with bullish flag behavior
Suggested Action: Monitor for breakout confirmation before entering long positions
This chart is for educational and technical analysis purposes only. Always use proper risk management.
The price is currently moving within the flag’s range. A breakout above the flag’s resistance trendline would confirm the bullish continuation pattern, potentially targeting levels above 3,500 USD. Until a confirmed breakout occurs, price action may continue to consolidate within the flag structure.
Flagpole: Sharp upward rally from mid-March to mid-April 2025
Correction: Downward sloping parallel channel
Breakout Level: Around 3,300–3,320 USD
Volume: Decreasing during the correction, which aligns with bullish flag behavior
Suggested Action: Monitor for breakout confirmation before entering long positions
This chart is for educational and technical analysis purposes only. Always use proper risk management.
FX|GOLD|CRYPTO| Clean Charts, Sniper Signals & Smart Risk Management. Telegram t.me/smarttrading072
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.
FX|GOLD|CRYPTO| Clean Charts, Sniper Signals & Smart Risk Management. Telegram t.me/smarttrading072
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.