There's still a little more left to sip from gold’s cup
Weekly Outlook on Gold (XAUUSD)
Gold has formed a classic cup pattern on the weekly timeframe, indicating a strong bullish continuation setup. If the pattern completes successfully, we could see a move toward the top of the channel, targeting the 4039 – 4100 zone.
The recent pullback to 3208 was a retest of the previously broken daily structure, acting as a healthy correction before the next potential leg up.
For those looking to enter this move, an ideal strategy would be to place a buy stop order above the last high, as a breakout confirmation.
⚠️ Important note: If the black trendline on the daily chart (which represents the current bullish structure) gets broken to the downside, the trade setup would become invalid and a reassessment would be required.
✅ The best approach is to wait for a clean breakout above the 3495 resistance, then look for a pullback entry on lower timeframes with proper risk management.
📉 In the longer term, we still expect a potential retracement all the way back to the 2199.661 level — so be aware of the bigger picture and adapt as the structure evolves.
