📈 XAUUSD Technical Analysis – Resistance Turned Support, Bullish Continuation Expected
Gold (XAUUSD) has shown strong bullish momentum after breaking above the key resistance zone around $3,400, which now appears to be acting as a new support level. This structure shift signals a classic break-and-retest scenario, commonly observed in bullish continuations.
🔍 Key Observations:
Structure Shift: Previous resistance near $3,400 has been broken with strong bullish candles, suggesting buyer dominance. This level is now expected to serve as support.
Bullish Momentum: The move from the $3,320 support zone to above $3,430 was accompanied by clear trend formation and clean market structure, indicating sustained momentum.
Retest in Progress: Price is currently pulling back toward the new support zone ($3,400). If this area holds, a bullish reaction is expected.
Next Target: If support at $3,400 holds as expected, price could rally back toward the next resistance and projected target of $3,460.
📚 Educational Insight:
This setup illustrates the principle of resistance becoming support (RBS)—a foundational concept in technical analysis. After a breakout, a successful retest of former resistance often provides a high-probability entry point for trend continuation trades.
Gold (XAUUSD) has shown strong bullish momentum after breaking above the key resistance zone around $3,400, which now appears to be acting as a new support level. This structure shift signals a classic break-and-retest scenario, commonly observed in bullish continuations.
🔍 Key Observations:
Structure Shift: Previous resistance near $3,400 has been broken with strong bullish candles, suggesting buyer dominance. This level is now expected to serve as support.
Bullish Momentum: The move from the $3,320 support zone to above $3,430 was accompanied by clear trend formation and clean market structure, indicating sustained momentum.
Retest in Progress: Price is currently pulling back toward the new support zone ($3,400). If this area holds, a bullish reaction is expected.
Next Target: If support at $3,400 holds as expected, price could rally back toward the next resistance and projected target of $3,460.
📚 Educational Insight:
This setup illustrates the principle of resistance becoming support (RBS)—a foundational concept in technical analysis. After a breakout, a successful retest of former resistance often provides a high-probability entry point for trend continuation trades.
Market Analyst | XAU/USD Focused
Educational Content & Technical Breakdowns
Premium VIP Signals & Market Insights
Forex Mentorship & Live trades & strategies shared daily
Join our Telegram t.me/Mentor_Michael033
Educational Content & Technical Breakdowns
Premium VIP Signals & Market Insights
Forex Mentorship & Live trades & strategies shared daily
Join our Telegram t.me/Mentor_Michael033
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.
Market Analyst | XAU/USD Focused
Educational Content & Technical Breakdowns
Premium VIP Signals & Market Insights
Forex Mentorship & Live trades & strategies shared daily
Join our Telegram t.me/Mentor_Michael033
Educational Content & Technical Breakdowns
Premium VIP Signals & Market Insights
Forex Mentorship & Live trades & strategies shared daily
Join our Telegram t.me/Mentor_Michael033
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.