“Gold Price Action: Bullish Momentum with Key Correction Zones

3 giorni fa

Analysis of XAU/USD (Gold Spot)

The chart shows a clear uptrend channel, supported by higher highs and higher lows.

Price recently pulled back after testing the $3,915 zone, which is acting as a short-term resistance.

Multiple support zones are highlighted (around $3,760 and $3,700), which can provide strong buying opportunities on retracement.

The structure suggests impulse–correction–impulse movement, aligning with bullish continuation patterns.

Bullish Scenario

If price holds above the $3,760–$3,780 support, continuation towards $3,915 (previous high) is expected.

A breakout above $3,915–$3,920 will open the door for further upside, targeting $3,960–$3,980.

Bearish Scenario

If price breaks below the trendline support (~$3,760), deeper correction is possible toward $3,680–$3,640 (TP1 zone).

That zone is mentioned on the chart as a strong re-entry point for long positions.

✅ Suitable Target (Bullish):

Immediate Target: $3,915 (previous high)

Extended Target: $3,960 – $3,980

⚠️ Correction Target (Bearish Pullback):

$3,680 – $3,640 (strong buy zone for re-entry)

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Trade attivo

Market is running 500+ pips in my direction