Gold (XAU/USD) has confirmed a major bullish breakout from a long-term Cup and Handle formation, pointing to a macro target of $4,044.90. While price approaches immediate resistance at $3,404.72, the bullish structure remains intact above the breakout support zone. A retracement towards ISL or SL zones could offer potential re-entry opportunities in line with the prevailing uptrend.
Note
Trade active
The buyback level presents a strong opportunity to scale into additional long positions on gold. Keep in mind our broader pattern objective as highlighted on the chart. We welcome your insights and perspectives on GOLD.
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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.