XAU/USD Technical Setup: Bullish Breakout Path to $4,150

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🔹GOLD (XAU/USD) - Technical Analysis

▪Trend Structure

The price is moving within a well-defined ascending channel, indicating a strong bullish trend.
Price action consistently forms higher highs and higher lows, confirming upward momentum.

▪Key Support Levels

Multiple demand zones (highlighted by grey rectangles and green arrows) have acted as strong support during pullbacks.
The RBS (Resistance Becomes Support) level has held successfully near the $4,040 area, suggesting buyers are defending this zone.

▪Target Zones

▫Psychological Resistance: $4,100 – A key level where price may face initial hesitation.
▫2nd Target Area: Around $4,130 Intermediate resistance zone.
▫Final Target Zone: $4,150 Marked as the ultimate bullish target based on current momentum.

▪Projection

The chart suggests a bullish continuation with a projected move towards $4,150, contingent on maintaining support near $4,040.
Potential short-term consolidation before breakout as drawn by the projected price path.

▪Conclusion
Gold remains in a strong uptrend. As long as price sustains above the key support zones, the bullish scenario targeting $4,150 remains valid.

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ملاحظة

1st layer activated near 4070, minor support area

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تم فتح الصفقة

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ملاحظة

1st target reached, 4100$

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ملاحظة

2nd target achieved, 4130, 600 pips+

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أغلقت الصفقة: تم الوصول للهدف

4150, achieved 800 pips+