Gold Futures Analysis – Breakout Confirmation & Bullish Continuation Potential
After an extended consolidation within a descending channel, Gold has successfully broken out, aligning with the overall bullish bias evident from the broader market structure.
Key Observations:
Overall Bias: Bullish, supported by higher-timeframe structure and trendline confluence.
Breakout Confirmation: Clean breakout above the descending channel, showing increased bullish momentum.
200 SMA Flip: Price reclaimed the 200-period SMA, reinforcing a shift in sentiment.
Key Zone Retests: The market is expected to retest the previous resistance (now support) around the 3345–3350 zone before any continuation.
Volume & RSI: Rising volume and RSI above 50 support further bullish continuation, with a short-term target toward the 3418 region.
Plan Ahead: I anticipate a short pullback to the support zone followed by bullish continuation if price holds above the breakout structure.
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After an extended consolidation within a descending channel, Gold has successfully broken out, aligning with the overall bullish bias evident from the broader market structure.
Key Observations:
Overall Bias: Bullish, supported by higher-timeframe structure and trendline confluence.
Breakout Confirmation: Clean breakout above the descending channel, showing increased bullish momentum.
200 SMA Flip: Price reclaimed the 200-period SMA, reinforcing a shift in sentiment.
Key Zone Retests: The market is expected to retest the previous resistance (now support) around the 3345–3350 zone before any continuation.
Volume & RSI: Rising volume and RSI above 50 support further bullish continuation, with a short-term target toward the 3418 region.
Plan Ahead: I anticipate a short pullback to the support zone followed by bullish continuation if price holds above the breakout structure.
Follow GoldenZoneFX For more content and valuable insights.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.