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:
Key Levels:
Technical Indicators:
Trading Considerations:
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
I hope you’ve had a great day and that your screens were green. 🌟
Happy Trading, and see you next time! 💹✨
Happy Trading, and see you next time! 💹✨
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.
I hope you’ve had a great day and that your screens were green. 🌟
Happy Trading, and see you next time! 💹✨
Happy Trading, and see you next time! 💹✨
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.