Gold's Zigzag Retreat: Shorts' Comeback LoomsOn Friday, gold rebounded slightly and regained the $3,330 mark during the North American trading session. However, it showed an overall volatile trend throughout the week and closed near the middle band of the Bollinger Bands at $3,325.54. The market interpreted the US-UK trade agreement as an "empty-shell agreement". Coupled with Trump's tariff remarks ahead of the upcoming high-level talks among major economies over the weekend, the risk aversion sentiment has risen again, providing support for the gold price.
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Judging from the current market structure, during the upward trend that started from $3,200, gold has not experienced an obvious central consolidation and has accumulated strong retracement momentum. Combining with the small-scale trend, the current adjustment is more likely to unfold in the form of a falling zigzag pattern or a rectangular consolidation pattern rather than a strong breakout, as the weekly resistance level has not been effectively digested and there has been no new positive driving force in the market.
Next week, we need to be cautious about blindly chasing long positions and especially give up the illusion of "breaking through the previous high". In the short term, the probability of a retracement is much higher than that of a continuous unilateral upward movement.
XAUUSD
sell@3330-3340
tp:3300-3280
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Strategic Analysis of Gold for Next WeekFrom the analysis of the 4-hour chart, the support level is around 3,270-3,280. The short-term resistance is at 3,360-3,370. In the daily chart, maintain the trading rhythm of shorting at highs and longing at lows. 👉👉👉
In terms of operation, the main strategy is to go long on the pullback. At intermediate positions, it is advisable to observe more and trade less. Be cautious about chasing orders and patiently wait to enter the market at key price levels.
XAUUSD trading strategy
buy @ 3305-3315
sl 3295
tp 3330-3340
If you approve of my analysis, you can give it a thumbs-up as support. If you have different opinions, you can leave your thoughts in the comments.Thank you!👉👉👉
The volatile decline in gold is in line with expectations!Technical analysis of gold: After rising and falling, gold has a large downward space, from 3438 to the current 3360, up and down close to 78 US dollars. Under this change, we should pay attention to whether the long and short changes of gold will continue. From the perspective of cyclical performance, after three consecutive positive lines on the daily line, there is a high probability of a wave of adjustment space, and the intensity of this adjustment will not be small, and it is possible that the big negative line swallows the positive line and goes directly below 3300. If it comes out like this, then it can be said that it is difficult for gold to rise this week. On Thursday and Friday, it may fluctuate and fall or fluctuate at a high level.
From the perspective of the 4-hour cycle, a big negative line closed, covering the previous positive lines, and breaking the support of the 5-day and 10-day moving averages. This wave may continue to fall to the Bollinger middle rail near 3300, but if it is a high-level shock, the Bollinger middle rail is not broken, and it may rise again to the high point of 3430. Therefore, gold has experienced a big rise and fall in this cycle, and now it is possible to rise or fall. In the short-term cycle, we will first focus on the support effect of 3360-3350 under the weakness of the early trading. If it does not break, we can continue to be bullish. The upper target is 3400, and if the strength is strong, we will look at 3430.
Overall, the short-term operation strategy for gold today is to rebound and short, supplemented by callbacks. The upper short-term focus is on the 3400-3405 line of resistance, and the lower short-term focus is on the 3350-3300 line of support.
Short order strategy:
Strategy 1: Short 20% of the gold position in batches when it rebounds to around 3397-3400, stop loss 6 points, target around 3360-3330, and look at the 3300 line if it breaks;
Long order strategy:
Strategy 2: Long 20% of the gold position in batches when it pulls back to around 3300-3305, stop loss 6 points, target around 3330-3350, and look at the 3370 line if it breaks;
Gold's decline under pressure is in line with expectations!From the perspective of the gold hourly line, the morning closed with a full sun, effectively breaking through the resistance of yesterday's 3360-3397 box. Therefore, it is definitely necessary to try to confirm the continued bullish trend after a pullback. The continuous diving in the afternoon refreshed the intraday low, which can only mean that the market is washing out, and all the long and short positions are driven out, and then brewing again; If the European session remains weak below 3350, there may be some room for further decline tonight, but the continuity may not be great, and it is easy to stabilize and bottom out and pull up; the current support is 3320, 3315, and 3305. If a stabilization signal is touched around 22:00, it is bullish. I personally think that there is limited space below 3300, and resistance is 3360, 3365, and 3370. If a pressure signal is touched around 20:00, it will fall back first; if it returns to above 3370, the trend will gradually become stronger, and it will be treated as a wide range of fluctuations for the time being;
On the whole, today's short-term operation strategy for gold is to short on rebounds and long on pullbacks. The short-term focus on the upper side is 3370-3375 resistance, and the short-term focus on the lower side is 3280-3290 support. Friends must keep up with the rhythm.
Short order strategy:
Strategy 1: Short 20% of the gold position in batches when it rebounds to around 3365-3370, stop loss 10 points, target around 3330-3305, and look at 3290 if it breaks;
Long order strategy:
Strategy 2: Long 20% of the gold position in batches when it pulls back to around 3285-3290, stop loss 10 points, target around 3310-3330, and look at 3350 if it breaks;
Can I buy the bottom when gold plummets?Technical analysis of gold: Affected by the optimistic news about Sino-US trade, spot gold opened sharply lower, and then the price of gold further declined. The current price of gold is around 3226 US dollars per ounce, and it has plunged nearly 110 US dollars in the day. Since the opening of gold, it has jumped down to 3275, and then rebounded to 3292, and then began to fall. As of now, gold has touched 3216 and then fluctuated upward. The bulls are temporarily suppressed. We still focus on rebounding and shorting. After all, the general trend is bearish. The upper 3280-3290 line is the main short-term suppression level at present. If the rebound is not broken, it can continue to be short. The short position may continue to reach a new low. Pay attention to the support of the 3200 mark. Due to the easing of the Sino-US trade war, gold opened directly in the morning. The plunge we expected last week came ahead of schedule. The plunge we expected last week came directly ahead of time. There was a technical gap above the early trading. Therefore, it is not recommended to blindly chase shorts at the moment. It is more reasonable to consider after filling the gap.
From the gold hourly chart, the focus below is on the 3200 integer mark. If the market stabilizes below 3200, then this is a big double top, and the next decline will extend to the vicinity of the 3000 integer mark. On the contrary, if the 3200 mark is not broken, then the bulls will fight back, at least they will fill the gap again! Therefore, in terms of operation, it is not recommended to chase the short now, and it is recommended to wait for the fall back to the 3200-3210 area to stabilize and buy! On the whole, today's short-term operation of gold recommends mainly shorting on rebounds, supplemented by longs on callbacks. The top short-term focus will be on the first-line resistance of 3280-3290, and the bottom short-term will focus on the first-line support of 3200-3202. Friends, you must keep up with the rhythm.
Short order strategy:
Strategy 1: Short 20% of the position in batches when gold rebounds to around 3280-3290, stop loss 10 points, target around 3250-3230, and look at the 3200 line if it breaks;
Long order strategy:
Strategy 2: Long 20% of the position in batches when gold pulls back to around 3200-3203, stop loss 10 points, target around 3230-3250, and look at the 3280 line if it breaks;
The latest trend of the gold market and operation suggestionsAt present, on the daily chart, gold closed with a medium-sized bearish candle. In the early trading session, it directly broke below the crucial defensive level of 3,370, thoroughly opening up the adjustment range. Meanwhile, it triggered the MACD indicator to form a death cross. Now that the gold price has reached a new low, the dominant strategy for the early trading session is still to sell on rallies.
On the 4-hour chart, in today's early trading session, the price directly broke down and smoothly pierced through the support area ranging from 3,270 to 3,260, realizing the transformation between the top and the bottom. At the 1-hour level, not only has it broken below the previous low of 3,260, but the moving averages have also formed a death cross, indicating strong bearish momentum. It is advisable to sell decisively when the gold price rebounds to around 3,270, which is the densely traded area at the lower part of the recent box consolidation. If the rebound fails to even reach the vicinity of 3,260, in an extremely bearish market situation, the downward space for the gold price will be further expanded.
Overall, for short-term trading of gold, the operation strategy should mainly focus on selling on rallies, supplemented by taking light long positions on pullbacks. Pay close attention to the resistance range from 3,235 to 3,245 on the upside, and closely monitor the support levels from 3,200 to 3,190 on the downside.
XAUUSD
sell@3225-3230
tp:3210-3200
Investment itself is not risky; it is only when investment is out of control that risks occur. When trading, always remember not to act on impulse. I will share trading signals every day. All the signals have been accurate without any mistakes for a whole month. No matter what gains or losses you've had in the past, with my help, you have the hope of achieving a breakthrough in your investment.
Gold operation, rebound short selling is still the main themeThe gold Asian market has no rebound power, and keeps oscillating and falling. The highest rebound is 3292 and the line is suppressed, and the lowest is 3259. The rebound is still dominant, so we can just rebound and go short. Today's opening is still difficult to fill the gap. Don't hold out hope. Just keep shorting on the rebound.After all, the international situation is a comprehensive ceasefire between India and Pakistan, and the 30-day ceasefire talks between Russia and Ukraine are mainly negative for gold. Coupled with the technical shorts, it is reasonable for gold to jump short. Today we will treat gold with a rebound and shorting. The top will focus on the suppression of the 3277-91 line. In operation, the rebound and shorting will be the main focus. Be a stable trader. I have been here. If your current gold operation is not ideal, I hope I can help your investment avoid detours. Welcome to come and communicate!
Judging from the current gold trend, today's upper resistance is focused on the 3287-93 line, and strong resistance is suppressed near the 3300 mark. This position is also the watershed of short-term strength and weakness of bulls and bears today. Before the daily level breaks through and stands at this position, the main short rhythm of the pullback will continue to remain unchanged.
Gold operation strategy:
Short gold at 3287-93 when it rebounds, stop loss at 3303, target at 3240-3245, continue to hold if it breaks;
Market Summary of Gold Last WeekAt the beginning of this week, the gold market has demonstrated strong upward momentum. The spot gold price has rapidly risen from around $3,314 at the start of the week. Boosted by risk aversion sentiment, it has advanced all the way and reached a peak of $3,438, precisely testing the resistance level of the upper band of the daily Bollinger Bands. This price has also refreshed the recent high record.👉👉👉
However, the good situation didn't last long, and the market situation took a sharp turn for the worse in the middle of the week. Due to the excessive increase in the early stage, a large amount of profit-taking from long positions poured out. Coupled with the concentrated release of the demand for a technical pullback, the gold price failed to hold firm at the high level and instead fell rapidly. By the close of trading on Friday, spot gold closed at $3,327.25, experiencing a significant decline compared to the intraday high, indicating that the intensity of the short-term battle between bulls and bears has further intensified.
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#XAUUSD: Price to go beyond $3650 to $3700 around 3500 pips moveThe XAUUSD price is moving nicely as we had predicted in our previous analysis. Both of our analyses have hit the take-profit target, and we are likely to see more bullish momentum continue in the coming time. There are two areas where price could move or reverse. Both targets have a long-term view, which means we are talking about a possible swing move that will take time to complete. Stop-loss and intraday target and position can be taken based on your own analysis and overview. Strong fundamentals are needed for price to reach our designated target area.
Good luck and trade safely. Trading financial instruments like gold and other markets brings extreme risk and can be severe if the risk is not managed correctly.
We are sharing our bias here, but it does not guarantee that the move will happen as described.
Once the trade is activated, you can set two targets. You can choose your own take-profit based on your analysis and trade management.
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#XAUUSD: Gold to continue rising,$4000 by end of the year targetGold has unexpectedly declined to 3335 in response to the anticipated price increase following the unfolding conflict in Asia. Currently, two regions exhibit price reversals.
The XAUUSD price is progressing in accordance with our previous analysis. Both analyses have successfully reached the take-profit target, and we anticipate further bullish momentum in the near future. However, price movement is subject to potential reversals in two areas. Both targets are long-term oriented, indicating potential swing moves that may take time to complete. Stop-loss, intraday target, and position decisions should be based on individual analysis and overall market assessment. Strong fundamentals are essential for price to reach the designated target area.
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GOLD → sideways fluctuations. Will it break the resistance levelNews summary:
US President Trump announced a trade agreement with the UK, which raised hopes of reaching such an agreement with other countries, eased market tensions, suppressed gold's safe-haven buying, and the rise in the US dollar, US stocks and US bond yields also suppressed gold prices. US Treasury Secretary Bensont and Trade Representative Greer will talk with China's top economic officials in Switzerland in the near future.
Quaid reminds everyone that market concerns have not completely dissipated, and it is necessary to pay attention to the support of bargain hunting. The European Commission said earlier that if negotiations with Washington fail to cancel a series of tariffs imposed by US President Trump, the EU is considering taking countermeasures against US imports worth up to 95 billion euros. Close attention needs to be paid to news related to the international trade situation and changes in market sentiment during this trading day.
Support level analysis:
3310-3300 US dollars/ounce: 3300 US dollars is a psychological barrier and technical support for the confirmation of the previous price retracement. If it falls below 3300, it may fall to the 3280 US dollar area.
Resistance level analysis:
3360-3375 USD/ounce: Gold is currently above the convergence and oscillation range. 3360-3375 USD is the high pressure level of the previous day's box consolidation. If it breaks through this position strongly, the upward space will open up.
Technical analysis:
Gold is in a high-level oscillation and convergence range. The 4-hour MACD indicator shows that the short-selling momentum is weakening, but the hourly chart shows that the price is still constrained by the downward trend line. If gold prices stabilize at $3,300, it may trigger a rebound to $3,350-3,360; if it falls below $3,280, it may accelerate the downward trend. if it falls below 3280 USD, it may accelerate the downward trend.
Operation strategy:
Bull strategy: Long at 3315-3325 USD, stop loss at 3305 USD, target position at 3350-3360 USD.
Short strategy: short at $3365-3375, stop loss at $3380, target position at $3330-3300.
Gold: Bearish Trend Continues as Prices Retreat from HighsIn the gold market today, there has been a certain rebound, which is stronger compared to before. However, after the price soars, it quickly falls back, further confirming the overall bearish tone. During the US trading session, we decisively placed a short order at the price of 3360, and subsequently, the market plummeted as expected. Judging from the current trend, gold is still in a bearish trend of pulling back from a high level. If there is a rebound in the future, we can still seize the opportunity to go short.
Technically, the moving average of the one-hour level of gold has started to turn downward. During the US trading session, after gold soared, it immediately entered a mode of significant decline, and the trend highly coincides with expectations.
Nevertheless, there are two possibilities for the subsequent market: if there is a substantial rebound in gold, then the market is likely to maintain a pattern of large-range fluctuations; but if the rebound fails to break through the level of 3320, it is sufficient to indicate that the bullish momentum is weak, and at that time, gold is very likely to completely enter a unilateral bearish trend.
Therefore, in the subsequent US trading session, we should focus on the pressure-bearing situation when gold rebounds to the level of 3320. Once it is blocked here, we can place a short order at a high price and grasp the profit-making opportunity under the bearish trend.
XAUUSD
sell@3320-3325
tp:3300-3280
Investment itself is not risky; it is only when investment is out of control that risks occur. When trading, always remember not to act on impulse. I will share trading signals every day. All the signals have been accurate without any mistakes for a whole month. No matter what gains or losses you've had in the past, with my help, you have the hope of achieving a breakthrough in your investment.
Gold will continue to fluctuate at a high levelThe speeches of the Federal Reserve and Powell have little impact on the market, and gold is likely to continue to trade in a high - level range.👉👉👉
XAUUSD trading strategy
buy @ 3360-3370
sl 3245
tp 3380-3390
If you approve of my analysis, you can give it a thumbs-up as support. If you have different opinions, you can leave your thoughts in the comments.Thank you!
The Fed is highly likely to keep interest rates unchangedAfter surging rapidly and then falling back in the early trading session today, gold basically started to fluctuate sideways. Of course, this is because gold is awaiting the important data of the Federal Reserve's interest rate decision. So, what will be the trend of gold after the Federal Reserve's interest rate decision?👉👉👉
From the perspective of the recent market situation and data, it is highly likely that the interest rate for gold will remain unchanged. Generally speaking, the price of gold will still maintain an upward oscillating trend. The 1-hour moving average of gold is still in a bullish arrangement with a golden cross, indicating that the bullish momentum of gold persists. It is advisable to go long on gold when the price is low. The level of $3,350 for gold remains an important turning point between the bullish and bearish trends.
#XAUUSD: Last Idea On Gold Has Helped Us Gain 1020+ pips Gold has reversed nicely from our last idea’s entry, making a nice 1020+ pips move. Now, we’re looking for the bullish trend to continue dominating the Gold market. If this happens, it could help us gain 1800+ pips. Please use accurate risk management while trading gold.
Once the trade is active, you may consider putting take-profit based on your analysis. There are two targets to consider.
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Gold has reached the $3,400 level againThe Federal Reserve will announce the May FOMC interest rate decision and hold a press conference tomorrow.The market generally expects the interest rate to remain unchanged, but Powell's speech will be crucial. 👉👉👉The non - farm payrolls data in April was unexpectedly strong (with 177,000 new jobs added). Coupled with the Federal Reserve's concerns about inflation, Powell is likely to continue his hawkish stance and emphasize "inflation - fighting first". If he signals a delay in the timing of interest rate cuts, it may suppress the bullish sentiment in gold. Conversely, if he implies concerns about economic slowdown, gold may gain support.
Gold has recently broken through the key resistance of $3,330 and firmly stood above the $3,400 level. The daily chart shows a clear upward channel. Gold trading advice: Go long in the range of $3,380 - $3,390 on a pullback, with a stop - loss at $3,360 and a target of $3,430.
XAUUSD trading strategy
buy @ 3380-3390
sl 3270
tp 3420-3430
If you approve of my analysis, you can give it a thumbs-up as support. If you have different opinions, you can leave your thoughts in the comments.Thank you!👉👉👉
Will gold fall after encountering resistance at its high point?Planning your trading is the prerequisite for making profits. The essence of the market is the cycle of highs and lows, alternating ups and downs, and the essence of trading is to grasp the relative highs and lows in the market and snipe valuable trading opportunities. This value has only two points: first, probability, and second, space.
After the gold price rose, we will analyze the trend of it correcting from the high to 3200. The key position of this rebound, that is, the 618 position, is near 3386. The gold price encountered resistance here in the morning. So technically this suppression can be used as a key reference for the future market. Today in the Asian session, we will first observe the support situation of 3350. If it breaks down, then before the interest rate decision in the early hours of Thursday, we will pay attention to whether the gold price can stand firmly above 3272. If this position is not stable, then the second half of the week will still be a downtrend. This wave of rise can only be regarded as a rebound repair, not a bull return (the premise is that 3386 above must not be broken).
Today's gold short-term operation ideas suggest that rebounding is the main focus, and callbacks are supplemented by longs. The upper short-term focus is on the 3386-3390 first-line resistance, and the lower short-term focus is on the 3320-3300 first-line support. All friends must keep up with the rhythm.
Short position strategy:
Strategy 1: Short 20% of the gold position in batches when it rebounds to around 3380-3385, stop loss 6 points, target around 3350-3330, and look at 3320 if it breaks;
Long position strategy:
Strategy 2: Long 20% of the gold position in batches when it pulls back to around 3315-3320, stop loss 6 points, target around 3340-3360, and look at 3380 if it breaks;
The bulls return strongly and continue to buy after the retracemCurrently, gold is fluctuating around 3360. Wait patiently for the opportunity to go long when it falls back. Below, we continue to pay attention to the short-term support at 3350-54, and focus on the important support at 3336-40. In terms of operation, we mainly go long on pullbacks. Be a prudent trader and take profits within your cognition. I have been waiting for your participation. If your current gold operation is not ideal, I hope I can help you avoid detours in your investment. Welcome to communicate with me!
From the 4-hour analysis, gold bulls are making another strong impact. On the top, we pay attention to the short-term suppression of 3385-90 and the suppression of 3400. On the bottom, we pay attention to the short-term support of 3350 and the important support of 3336-40. In terms of operation, we mainly buy when the price falls back. In the middle position, we should watch more and do less, and follow orders cautiously, and wait patiently for key points to enter the market.
Gold operation strategy:
Gold falls back to 3350-53 and buys more when it falls back to 3336-40. Stop loss 3327, target 3380-3385, and continue to hold if it breaks;
Gold rises strongly and bulls restart!Gold technical analysis: From a technical point of view, the daily line rose on Monday, showing an absolutely strong positive state. Normally, the daily cycle rises and we can see that the upper Bollinger track is near 3500, so there is a lot of room above, and we should pay attention to the continuation of this wave. The 4-hour cycle still needs a wave of strength, and it needs to go out of a big rise before it can open the upper Bollinger track and form an absolute unilateral strength. Therefore, although it is clearly bullish for the time being, there is also a certain possibility of adjustment. At present, the support of the 4-hour cycle is near 3330. If there is a chance of a decline, we can follow the bullish trend.
On the whole, the short-term operation strategy for gold today is to focus on buying on pullbacks and shorting on rebounds. The short-term focus on the upper side is the 3415-3420 line of resistance, and the short-term focus on the lower side is the 3330-3350 line of support.
Short order strategy:
Strategy 1: Short 20% of the gold position in batches when it rebounds to around 3415-3420, stop loss 6 points, target around 3390-3380, and look at the 3360 line if it breaks;
Long order strategy:
Strategy 2: Long 20% of the gold position in batches when it pulls back to around 3350-3352, stop loss 6 points, target around 3380-3400, and look at the 3420 line if it breaks;
Gold is once again affected by tariffs and rises sharplyNews: Gold rose sharply, mainly because Trump announced a 100% tariff on all films produced abroad and entering the United States, which once again triggered global trade tensions. At the same time, the conflict between Russia and Ukraine is still ongoing, and the situation in the Middle East has become tense again. For example, Israel’s missile attacks retaliated against the Houthi armed forces in Yemen and Iran. These have stimulated gold’s safe-haven properties and pushed up gold prices.
Technical aspect: Gold bulls are strong, so there is a certain risk in shorting gold. The point of concern below is the low of 3323. If gold continues to maintain its strength, it is impossible to fall below the 3323 line again.
Trading ideas: Buy gold near 3338, stop loss 3330, target 3360
XAUUSD Analysis todayHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Summary of the Gold Market This WeekThis week, the gold market showed a clear downward trend, with spot gold accumulating a 2.43% decline.👉👉👉
The economic data had a significant impact on the gold market this week. Data released by the US Department of Labor on the 2nd showed that the non - farm payroll employment in the US increased by 177,000 in April, much better than the expected 138,000, and the growth data for the previous two months were revised downwards. The US unemployment rate was 4.2% in April, in line with market expectations. The strong non - farm payroll data reduced the possibility of the Federal Reserve cutting interest rates in June. Under normal circumstances, the reduction in the interest rate hike expectation should be bullish for gold. However, the gold market did not rise sharply this time, mainly because the gold price had risen significantly in the early stage and the long - term investors had a strong sentiment of taking profits. At the same time, the relatively good employment data also reflected the resilience of the US economy to a certain extent, weakening the appeal of gold as a safe - haven asset. As a result, the gold price did not show an obvious upward trend immediately after the data was released. Instead, it remained volatile in the short term.
From a technical perspective, although the gold price has declined this week, the futures price still has certain technical advantages in the near term. On the daily chart, although a negative candlestick was recorded this week, the previous upward trend has made the moving average system still show a long - term arrangement. From the perspective of the RSI, the current value is hovering around 50, indicating that the market's long and short forces are temporarily relatively balanced, and neither side has an obvious advantage. Therefore, the gold price has entered a consolidation stage.
With the economic development in Asia and the changes in consumers' demand for gold investment and jewelry, Asia's influence in the global gold market has become increasingly prominent. If the demand in Asia remains strong in the future, it will provide strong support for the gold price. On the contrary, if the demand weakens, it may increase the downward pressure on the gold price.
Looking ahead to next week, the gold market still faces many uncertainties. On the one hand, the continuous changes in economic data and the direction of the Federal Reserve's monetary policy remain key factors. If the subsequently released data continue to show the resilience of the US economy, it may further reduce the market's expectation of a rate cut by the Federal Reserve, thereby suppressing the gold price. On the other hand, any new development in the international trade situation may trigger fluctuations in the market's risk - averse sentiment, thus affecting the supply - demand relationship and price trend of gold.
XAU/USD (Gold) Analysis 2/5/20251. XAU/USD recently recorded an all-time high (ATH) at the 3150 level.
2. Following a healthy retracement, we are now eyeing potential long opportunities near the 3100 zone.
3. The 3100 level presents a favorable risk-reward entry point, aligned with historical support.
4. Market sentiment remains bullish, supported by strong fundamentals and ongoing geopolitical tensions.
5. A breakout above the previous ATH could open the door for a continued rally toward higher resistance levels.
6. Our upside targets for this move are in the range of 3450 to 3500, offering considerable profit potential.
7. Price consolidation near 3100 indicates accumulation, reinforcing the long bias.
8. We anticipate renewed buying pressure as the market tests key psychological and technical levels.
9. Risk management will be crucial, with stops ideally placed just below the 3050 support region.
10. Overall, this setup offers a compelling long trade backed by technical structure and market momentum.