This 1-hour chart of Gold (XAU/USD) illustrates a successful breakout above a key resistance zone, now acting as support. The price has formed an upward channel, confirming bullish momentum. A recent breakout from the resistance area (marked in red) has been retested as support, reinforcing the uptrend. The chart suggests potential price targets at $2,950 and $2,960, aligning with the current bullish structure. Traders should watch for sustained support above the breakout level to confirm further upside movement.
✅ Breakout & Retest: Gold broke above $2,930 resistance, retested it as new support, and continues upward.
📈 Uptrend: The price is moving in a rising channel, showing strong bullish momentum.
🎯 Targets:
$2,950 (First target)
$2,960 (Next target)
🔎 Key Support: $2,930 – If price stays above, the uptrend remains strong.
⚠️ Risk: A drop below $2,930 could lead to a pullback towards $2,900.
👉 Conclusion: Bulls are in control. As long as $2,930 holds, the price could reach $2,950-$2,960.
NOTE
Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
✅ Breakout & Retest: Gold broke above $2,930 resistance, retested it as new support, and continues upward.
📈 Uptrend: The price is moving in a rising channel, showing strong bullish momentum.
🎯 Targets:
$2,950 (First target)
$2,960 (Next target)
🔎 Key Support: $2,930 – If price stays above, the uptrend remains strong.
⚠️ Risk: A drop below $2,930 could lead to a pullback towards $2,900.
👉 Conclusion: Bulls are in control. As long as $2,930 holds, the price could reach $2,950-$2,960.
NOTE
Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
Trade active
trade activeTrade closed: target reached
Congratulation Target reached Successfully 
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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.