🔥 Gold Spot (XAU/USD) Daily Chart Analysis – Bullish Breakout Towards New ATH 📈✨
📊 Chart Overview:
Gold has shown a strong bullish daily candle breakout above the key Resistance & Support Zone around $3,430, turning this critical level into a potential support. The upward move signals continuation of the trend, especially amid global tensions (as annotated: “War going on...”), which historically drive gold prices higher due to its safe-haven appeal. 🪙🛡️
🔍 Key Technical Highlights:
🟩 Resistance Turned Support – Price has decisively broken the previous resistance (green zone), suggesting bulls are in control. A successful retest of this area could provide a solid base for further upside.
🚀 Next Target: New All-Time High (ATH) – The chart projects a bullish move towards the $3,480+ level, forming a new ATH. Momentum and macroeconomic factors (e.g., geopolitical conflict) support this bias.
🟫 Support Level – The orange zone below (~$3,140–$3,160) remains a strong support area and demand zone, providing a cushion if price pulls back.
🕯️ Candlestick Structure – Recent candles show strong bullish momentum with minimal wicks on top, indicating buyers are closing near highs — a bullish signal.
📈 Projection Path – An ideal bullish path is visualized: a potential pullback/retest followed by a continuation rally.
🔔 Conclusion:
Gold looks poised to rally further, supported by technical breakout and macro catalysts. 📌 Watch for:
Confirmation of the retest holding.
Continuation volume.
Potential pullbacks as re-entry opportunities.
🛎️ Trading Idea: Buy on retest confirmation ✅
🎯 Target: $3,480+
🛡️ Stop-loss: Below $3,410 (to protect against false breakout)
📌 Stay alert for global headlines! 🌍📰 Gold remains a prime asset in uncertain times.
📊 Chart Overview:
Gold has shown a strong bullish daily candle breakout above the key Resistance & Support Zone around $3,430, turning this critical level into a potential support. The upward move signals continuation of the trend, especially amid global tensions (as annotated: “War going on...”), which historically drive gold prices higher due to its safe-haven appeal. 🪙🛡️
🔍 Key Technical Highlights:
🟩 Resistance Turned Support – Price has decisively broken the previous resistance (green zone), suggesting bulls are in control. A successful retest of this area could provide a solid base for further upside.
🚀 Next Target: New All-Time High (ATH) – The chart projects a bullish move towards the $3,480+ level, forming a new ATH. Momentum and macroeconomic factors (e.g., geopolitical conflict) support this bias.
🟫 Support Level – The orange zone below (~$3,140–$3,160) remains a strong support area and demand zone, providing a cushion if price pulls back.
🕯️ Candlestick Structure – Recent candles show strong bullish momentum with minimal wicks on top, indicating buyers are closing near highs — a bullish signal.
📈 Projection Path – An ideal bullish path is visualized: a potential pullback/retest followed by a continuation rally.
🔔 Conclusion:
Gold looks poised to rally further, supported by technical breakout and macro catalysts. 📌 Watch for:
Confirmation of the retest holding.
Continuation volume.
Potential pullbacks as re-entry opportunities.
🛎️ Trading Idea: Buy on retest confirmation ✅
🎯 Target: $3,480+
🛡️ Stop-loss: Below $3,410 (to protect against false breakout)
📌 Stay alert for global headlines! 🌍📰 Gold remains a prime asset in uncertain times.
Market Analysts, Mentor, Forex Trader.
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
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.
Market Analysts, Mentor, Forex Trader.
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
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.