"Gold Price Action: Buyers Defend Key Support – What’s Next?"

Gold (XAU/USD) Technical Analysis – 1H Chart

Key Levels:

- Weekly High: Resistance near $3,058
- Friday Daily High: Resistance at $3,047
- Friday Daily Low: Key support at $3,001
- Weekly Low: Strong support near $2,983

Market Structure:

- Gold has pulled back after reaching a weekly high and is currently testing a point of interest (POI) near the Friday daily low.
- The 200 EMA (blue line) is acting as dynamic support, aligning with the POI zone.

Trade Outlook:
- Bullish Scenario: If price holds above the $3,001 - $2,999 support zone, a move towards $3,047 and $3,058 could be expected.
- Bearish Scenario: A break below $2,980 may lead to further downside.

Conclusion:
Gold remains in a short-term retracement phase, and buyers need to defend the $3,001 level to maintain bullish momentum. A confirmed bounce from this zone could signal a continuation toward recent highs.

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Trade active

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Amazing guys, 700 pips+ achieved, from 3005 to 3075.

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finally 800 pips+ achieved , from 3005 to 3085.

Trade closed: target reached

Finally trade closed with 1100 pips+ profits, from 3005 to 3115.

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