XAU/USD) Breakout strong bullish trend Read The caption

6月2日

SMC Trading point update




Technical analysis chart of gold (XAUUSD) on the 4-hour timeframe. Here’s a breakdown of the key ideas presented in the chart:


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Key Support/Resistance Zone

A yellow rectangular zone marks a significant support/resistance level.

This level was previously a resistance and has now been flipped into support ("new support level").



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Trend Analysis

Uptrend line (lower diagonal line): Shows support and higher lows forming a bullish structure.

Downtrend lines (upper diagonals): Show past resistance levels being tested.

Strong downtrend line has now been broken, which is bullish.



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Target Points

Three bullish targets are marked:

1. $3,436.70


2. $3,500.93


3. $3,647.33



These targets seem to be based on:

Breakout above the resistance zone.

Measured move projections from previous impulsive rallies.




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Technical Indicators

200 EMA (Exponential Moving Average): Currently at $3,261.87, acting as dynamic support.

RSI (Relative Strength Index):

Current RSI is 54.80, indicating neutral momentum.

Previously touched overbought zone (~69), indicating strong recent bullish momentum.




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Arrows

Green arrows mark strong bullish bounce points.

Red arrow marks a rejection from the downtrend line (previous resistance).





Mr SMC Trading point
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Conclusion (Idea Summary)

Price has broken out of consolidation and downtrend resistance.

If the price holds above the yellow support zone and 200 EMA, a bullish continuation is likely.

Targets: $3,436 → $3,501 → $3,647.

Confirmation of breakout and momentum depends on volume and RSI behavior in coming candles.



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6月5日

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