**Gold Price Eyes Breakout as Bullish Momentum, long setup

This chart is a technical analysis of Gold (XAU/USD) price movement on the 1-hour timeframe. Here's a detailed description of the key elements:

🔍 Key Components:
1. Support and Resistance Zones:
Resistance Level (Top Blue Zone): Around 3,355–3,375 — the area where price previously reversed downward.

Low Support (Middle Blue Zone): Around 3,320 — a minor support/resistance flip zone. Currently being tested.

Strong Support Level (Bottom Blue Zone): Around 3,250 — where price previously bounced strongly.

🔺 Important Chart Markings:
📍 Red Circles with Arrows:
These mark key reversal points.

The upper circle (22nd May) shows a rejection at the resistance zone, followed by a sharp drop.

The lower circle (29th May) indicates a strong bounce off the strong support zone.

📈 Trend and Indicators:
Trend Line (Black upward line): Shows the current bullish trend (higher lows forming).

Moving Averages: Multiple EMAs (colored lines) indicate bullish crossover — short-term EMAs are moving above long-term EMAs, signaling upside momentum.

📊 Projection (Future Movement Prediction):
Blue Arrow Upward: Suggests a bullish continuation.

If price holds above the current low support zone (~3,320):

It may rally toward the resistance zone (~3,360–3,370).

A pullback and bounce pattern is suggested before the continuation (black zigzag arrow).

✅ Summary:
Current Bias: Bullish

Entry Point: Around 3,320 (if support holds)

Target: 3,355–3,370 resistance area

Stop Loss Idea: Below 3,300 or near the trendline break

Confirmation Needed: A breakout above current resistance with volume or a bullish pattern