XAUUSD strong bullish soon opportunity again all time high

This chart shows a technical analysis of Gold (XAUUSD) on the 1-hour timeframe. The main elements include:

Support Area: Marked in green below the current price level, indicating a zone where buying interest may emerge.

Resistance Area: Marked in green above, representing a potential supply zone where selling pressure might increase.

Price Action Projection: The pink arrow suggests a bullish move from the support zone towards the resistance area.

Disruptions or Alternative Perspectives:

1. False Breakout Possibility:

Price might break below the support area before reversing, creating a stop-hunt scenario.

Watch for a strong rejection before confirming the bullish bias.

2. Resistance Strength:

The resistance zone (around 2,961) has been tested multiple times. If price reaches it again, sellers might dominate.

A clean breakout above resistance with strong volume is needed for further upside.

3. Alternative Scenario - Bearish Case:

If price struggles to hold the support zone, it could break lower, leading to further downside.

Invalidation of bullish bias occurs if price closes below the support zone with high volume.

4. Macroeconomic & Fundamental Factors:

Gold is highly sensitive to economic data, interest rate decisions, and geopolitical events.

A sudden change in fundamentals could override technical analysis