#XAUUSD Higher Time Frame Analysis*

#XAUUSD Higher Time Frame Analysis

Gold is currently showing strong bullish momentum, driven by both fundamental and technical factors.

### Fundamental Insight:
Natural calamities like wildfires in California (L.A), earthquakes, and tsunamis often push investors toward safe-haven commodities such as gold, US oil, and platinum. This increased demand leads to a rise in commodity prices during such events.

### Technical Overview:
1. The recent dip in gold prices can be considered a healthy correction before continuing its higher time frame bullish trend.
2. The 2718-2721 zone is a critical area on the daily time frame. A sustained daily candle close above 2721 will likely trigger a rally of 500+ pips.
3. If gold breaks and holds above 2721, the next targets are 2773-2790. This zone represents the final resistance before gold potentially moves toward the 3000 mark.

### Key Levels to Watch:
- The 2718-2721 area is crucial and may face strong rejection initially.
- A bullish daily close above 2721 will confirm the continuation of the uptrend.

### Next Steps:
We will refine the setup using lower time frames like H4 and H1 for precise entry points. Updates will be shared soon.

**Conclusion:** Watch for a daily close above 2721 for confirmation of further bullish momentum, while keeping an eye on potential rejections in this zone.