GOLD TRADING +2888 AS EXPECTED / MONDAY(10-FEB-2025)

Gold (XAU/USD) 4-Hour Chart Analysis
Trend Analysis:
The price is currently in an ascending channel (marked by parallel purple trendlines).
The overall trend is bullish, as price continues making higher highs and higher lows.
Support & Resistance Levels:
Support Zone: Around $2,820 (marked in blue), which aligns with a previous consolidation area.
Resistance Levels:
$2,930 (strong resistance)
$2,947.49 (next target level)
Possible Price Movement (Scenarios):
Bullish Continuation (Primary Outlook):

Price could make a pullback to the red trendline ($2,860) or the support zone ($2,820).
After retesting support, a bounce toward $2,930 - $2,947 is likely.
Bearish Breakdown (Alternative Outlook):

If the price breaks below the blue support zone, a further drop to $2,786 could occur.
Indicators & Confirmation:
Trendline Bounce: A strong bounce from the red or purple trendlines would confirm continued bullish momentum.
Breakout Above $2,900: Would signal further upside movement toward $2,930+.
Conclusion:
Bullish bias remains intact unless the price breaks below key support levels.
Watch for pullback opportunities around $2,860 - $2,820 for potential long entries.
Key target remains $2,930 - $2,947 if the trend continues.