📈 Gold (XAU/USD) – 6H Time Frame Bullish Breakout Watch
Gold is now pressing into a major descending trendline, connecting two significant swing highs — and we’re seeing strong bullish momentum driving price into this key level.
🔹 Key Technical Insights:
Descending Resistance Test:
Price is testing a long-standing descending trendline. A confirmed break and close above could trigger a strong breakout run toward the next key high.
Volume Building:
Volume is steadily increasing, indicating growing bullish participation — a classic pre-breakout signature.
Fibonacci Confluence Zone:
The 71% Fib retracement has held as a strong support base, lining up with a prior demand zone — a textbook accumulation zone.
200 EMA Acting as Launchpad:
Price broke above and retested the 200 EMA, now acting as dynamic support. Structure confirms bullish control.
🔹 Targets in Sight:
Target 1: 3,499.92 (local resistance / double top)
Target 2: 3,516.38 (previous high)
📌 Summary:
Gold is positioned for a potential bullish breakout if it can break and sustain above trendline resistance. All key elements — rising volume, Fib support, structure, and EMA positioning — point to momentum favoring the upside.
Gold is now pressing into a major descending trendline, connecting two significant swing highs — and we’re seeing strong bullish momentum driving price into this key level.
🔹 Key Technical Insights:
Descending Resistance Test:
Price is testing a long-standing descending trendline. A confirmed break and close above could trigger a strong breakout run toward the next key high.
Volume Building:
Volume is steadily increasing, indicating growing bullish participation — a classic pre-breakout signature.
Fibonacci Confluence Zone:
The 71% Fib retracement has held as a strong support base, lining up with a prior demand zone — a textbook accumulation zone.
200 EMA Acting as Launchpad:
Price broke above and retested the 200 EMA, now acting as dynamic support. Structure confirms bullish control.
🔹 Targets in Sight:
Target 1: 3,499.92 (local resistance / double top)
Target 2: 3,516.38 (previous high)
📌 Summary:
Gold is positioned for a potential bullish breakout if it can break and sustain above trendline resistance. All key elements — rising volume, Fib support, structure, and EMA positioning — point to momentum favoring the upside.
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Declinazione di responsabilitÃ
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.