Gold Price Continues Bullish Trend, Targeting $3,050
This 1-hour chart of Gold Spot (XAU/USD) shows a strong uptrend supported by a rising trendline. After consolidating in two separate accumulation zones, the price has broken out and continues to respect the upward channel. Key trendline retests (marked in red circles) indicate strong support, with a projected target of $3,050. Traders should watch for potential pullbacks before a continuation toward the target.
Gold (XAU/USD) Price Analysis – 1H Chart
Trend & Structure
The chart depicts a clear bullish trend with a well-respected ascending channel.
Gold price has been forming higher highs and higher lows, confirming strong upside momentum.
A trendline has been drawn connecting multiple retests (red circles), reinforcing bullish sentiment.
Key Support & Resistance Levels
Support Levels:
The lower boundary of the ascending channel (~$3,000).
Previous consolidation zones (~$2,980 & $2,940).
Resistance Levels:
The upper boundary of the ascending channel (~$3,050).
Psychological level of $3,050 (marked as the target).
Breakout & Retests
The chart shows two breakout zones from sideways accumulation phases (yellow and blue boxes).
Each breakout was followed by a retest of the trendline, confirming strong buying pressure.
Price is currently pushing towards the $3,050 target, with a minor pullback expected before another leg up.
Trading Outlook & Strategy
Bullish Scenario: If the price continues to hold above the trendline and current levels, it is likely to reach $3,050 soon.
Bearish Scenario: If the price breaks below the trendline and fails to hold above $3,000, it could signal a deeper correction.
Conclusion
Gold remains in a strong uptrend with momentum favoring buyers. As long as the trendline holds, traders should look for buying opportunities on pullbacks with a target of $3,050. However, a break below $3,000 may indicate a short-term bearish correction.
NOTE
This is not a trading signal, just my personal analysis based on current market trends.
Gold (XAU/USD) Price Analysis – 1H Chart
Trend & Structure
The chart depicts a clear bullish trend with a well-respected ascending channel.
Gold price has been forming higher highs and higher lows, confirming strong upside momentum.
A trendline has been drawn connecting multiple retests (red circles), reinforcing bullish sentiment.
Key Support & Resistance Levels
Support Levels:
The lower boundary of the ascending channel (~$3,000).
Previous consolidation zones (~$2,980 & $2,940).
Resistance Levels:
The upper boundary of the ascending channel (~$3,050).
Psychological level of $3,050 (marked as the target).
Breakout & Retests
The chart shows two breakout zones from sideways accumulation phases (yellow and blue boxes).
Each breakout was followed by a retest of the trendline, confirming strong buying pressure.
Price is currently pushing towards the $3,050 target, with a minor pullback expected before another leg up.
Trading Outlook & Strategy
Bullish Scenario: If the price continues to hold above the trendline and current levels, it is likely to reach $3,050 soon.
Bearish Scenario: If the price breaks below the trendline and fails to hold above $3,000, it could signal a deeper correction.
Conclusion
Gold remains in a strong uptrend with momentum favoring buyers. As long as the trendline holds, traders should look for buying opportunities on pullbacks with a target of $3,050. However, a break below $3,000 may indicate a short-term bearish correction.
NOTE
This is not a trading signal, just my personal analysis based on current market trends.
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👉 lucky person will join this link 👇
t.me/+1iCkqnlXaHFjMjg0
🎯 DAILY FREE SIGNAL 🔥
🎯 FOREX GOLD SIGNAL🔥👇
🎯 BTCUSD AND CRYPTO SIGNALS
t.me/+1iCkqnlXaHFjMjg0
t.me/+1iCkqnlXaHFjMjg0
🎯 DAILY FREE SIGNAL 🔥
🎯 FOREX GOLD SIGNAL🔥👇
🎯 BTCUSD AND CRYPTO SIGNALS
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Related publications
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.