XAUUSD – Breakout Sets the Stage for More Upside
On the Daily chart, gold has cleared the horizontal resistance around 3,500, ending a prolonged consolidation phase and confirming the Ascending Triangle pattern. This signals that buyers remain firmly in control.
In the short term, a pullback toward 3,500–3,520 is possible as the market retests the breakout zone. Holding this area would strengthen the case for continuation to the upside.
Key levels to watch:
Support: 3,500–3,520
Near-term Resistance: 3,575–3,600
Extended Target: 3,700–3,750 if momentum persists
Overall, the outlook stays positive, and any dips are likely to be viewed as opportunities to join the prevailing uptrend.
Do you think gold will soon make its way toward the 3,700 mark?
On the Daily chart, gold has cleared the horizontal resistance around 3,500, ending a prolonged consolidation phase and confirming the Ascending Triangle pattern. This signals that buyers remain firmly in control.
In the short term, a pullback toward 3,500–3,520 is possible as the market retests the breakout zone. Holding this area would strengthen the case for continuation to the upside.
Key levels to watch:
Support: 3,500–3,520
Near-term Resistance: 3,575–3,600
Extended Target: 3,700–3,750 if momentum persists
Overall, the outlook stays positive, and any dips are likely to be viewed as opportunities to join the prevailing uptrend.
Do you think gold will soon make its way toward the 3,700 mark?
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Related publications
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.