On the 4H timeframe, price has broken out of a falling wedge pattern — typically a strong bullish signal. After the breakout, price confirmed support with a successful retest and is now following a short-term ascending trendline, suggesting continued bullish momentum.
🔍 Key Chart Highlights:
✅ Strong demand zone held at the 3245–3235 area (green box), triggering a bullish reversal.
✅ The current short-term uptrend remains valid as long as price respects the ascending trendline.
✅ First resistance zone lies between 3395–3405 (yellow box) — the next short-term target.
✅ If broken, the next bullish target is the 3440–3448 zone (red box).
📉 RSI (14):
Currently around 61, showing room for further upside before entering overbought territory.
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🔔 Summary:
As long as price holds above the 3245 support and maintains the ascending trendline, the bullish outlook remains intact. A breakout above 3405 could invite fresh buying momentum toward the 3440+ zone.
🛑 On the flip side, if the trendline fails and support is lost, price could revisit the 3240, and potentially the 3140, support zones.
🪙 Analyst: sajjad shamsi
#XAUUSD #Gold #TechnicalAnalysis #TradingView #GoldAnalysis #Forex #Metals
🔍 Key Chart Highlights:
✅ Strong demand zone held at the 3245–3235 area (green box), triggering a bullish reversal.
✅ The current short-term uptrend remains valid as long as price respects the ascending trendline.
✅ First resistance zone lies between 3395–3405 (yellow box) — the next short-term target.
✅ If broken, the next bullish target is the 3440–3448 zone (red box).
📉 RSI (14):
Currently around 61, showing room for further upside before entering overbought territory.
---
🔔 Summary:
As long as price holds above the 3245 support and maintains the ascending trendline, the bullish outlook remains intact. A breakout above 3405 could invite fresh buying momentum toward the 3440+ zone.
🛑 On the flip side, if the trendline fails and support is lost, price could revisit the 3240, and potentially the 3140, support zones.
🪙 Analyst: sajjad shamsi
#XAUUSD #Gold #TechnicalAnalysis #TradingView #GoldAnalysis #Forex #Metals
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.
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.