Gold (XAU) is consolidating in a tight range (2,900–2,903) following a bullish flag pole formation, signaling potential continuation of the uptrend. Key levels to watch:
- Breakout Resistance: 2,903.31 (flag upper boundary). A close above targets 3,000.00 (psychological resistance).
- Support Zone: 2,900–2,880. A breakdown here may invalidate the pattern.
Technical Rationale: The bull flag pattern suggests accumulation after a sharp rally, with the RSI-neutral price action (+0.03%) indicating balanced momentum. The flag’s proximity to yearly highs reinforces bullish bias if breakout occurs.
Fundamental Catalyst: Macro risks (rate cut expectations, geopolitical tensions) could amplify safe-haven demand, aligning with the technical setup.
Action: Monitor for volume-backed breakout above 2,903.31 for long entries. Tight stop-loss advised below 2,880.
Risk Disclaimer: Trade with managed risk; patterns may fail amid shifting macro drivers.
- Breakout Resistance: 2,903.31 (flag upper boundary). A close above targets 3,000.00 (psychological resistance).
- Support Zone: 2,900–2,880. A breakdown here may invalidate the pattern.
Technical Rationale: The bull flag pattern suggests accumulation after a sharp rally, with the RSI-neutral price action (+0.03%) indicating balanced momentum. The flag’s proximity to yearly highs reinforces bullish bias if breakout occurs.
Fundamental Catalyst: Macro risks (rate cut expectations, geopolitical tensions) could amplify safe-haven demand, aligning with the technical setup.
Action: Monitor for volume-backed breakout above 2,903.31 for long entries. Tight stop-loss advised below 2,880.
Risk Disclaimer: Trade with managed risk; patterns may fail amid shifting macro drivers.
Trade closed: target reached
Target Hit! Textbook Bull Flag Breakout!We spotted the Bull Flag — clean Flag Pole, steady Flag Channel, and a powerful breakout right on cue!
Perfect entry, perfect execution — and the target was smashed with precision!
This is how patience and chart mastery pay off.
Subscribe now and stay tuned — a fresh setup is just around the corner. Let’s catch the next big move together!
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join my free Channel
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Telegram Contact
t.me/GoldUkExpert
t.me/+Jd5ZLmsvF-FkZjg0
Telegram Contact
t.me/GoldUkExpert
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.