GOLD (XAU/USD) H1 Technical Analysis: Bullish Breakout Targets 3

Looking at the H1 timeframe for Gold, we're seeing a clear bullish momentum with several key technical developments:

Market Structure:

• Price has made a decisive breakout above the previous resistance level around 2950
  
• Strong bullish candle formation with minimal upper wicks, indicating buyer control
  
• Moving averages aligned bullishly, with price comfortably above all MAs
  
• Clear higher highs and higher lows structure maintained
  

Key Levels:

• Immediate Support: 2943.90 (Previous resistance turned support)
  
• Current Price: ~2951.31
  
• Next Major Target: 3000.00 (Psychological level)
  
• Breakout Level: 2949.37
  

Technical Indicators:

• Volume showing increased buying pressure on the breakout
  
• Momentum indicators in the bottom panel showing positive divergence
  
• Price trading above all major moving averages, confirming bullish trend
  

Trading Considerations:

• The blue box indicates a potential continuation zone
  
• Look for pullbacks to the 2943-2945 zone for potential long entries
  
• Risk management crucial at these all-time high levels
  
• Monitor for potential exhaustion signals near the 3000 psychological level