GOLD (XAUUSD): Breakout confirmed
Gold is currently in a strong bullish trend.
After establishing a new higher high and higher close on the 4-hour timeframe, the pair has entered a consolidation phase within a horizontal trading range.
I anticipated a bullish breakout above the range’s resistance level.
A 4-hour candle closing above 2943 would signal strong buying momentum, confirming a bullish continuation. The next target for buyers would be 2980.
After establishing a new higher high and higher close on the 4-hour timeframe, the pair has entered a consolidation phase within a horizontal trading range.
I anticipated a bullish breakout above the range’s resistance level.
A 4-hour candle closing above 2943 would signal strong buying momentum, confirming a bullish continuation. The next target for buyers would be 2980.
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