Gold Eyes Upside Break – Bullish Outlook for Swing Traders

Gold (XAUUSD) continues to show strength on the 4-hour chart, maintaining its bullish structure and offering a compelling opportunity for swing traders. The market has recently rejected a key support zone, confirming buyer interest and momentum continuation.

Key Technical Observations

• Support Zone Rejection: Price strongly rejected the $3,199–$3,265 support zone, forming a clear bullish response. This zone also coincides with the rising trendline, adding strength to the support.
  
• Trendline Confirmation: The dotted green ascending trendline has been respected multiple times, reinforcing the ongoing uptrend.
  
• Consolidation Breakout: After consolidating for nearly 3 days, price broke above the range, confirming bullish intent.
  
• All-Time High Target: The next major resistance lies near the all-time high at $3,504, which acts as the primary upside target.
  

Trade Setup

• Entry Level: $3,338 (after breakout from consolidation)
  
• Take Profit (TP): $3,504
  
• Stop Loss (SL): $3,265
  
• Risk-Reward Ratio: Approximately 2.28
  

Gold is clearly bullish on the 4-hour timeframe. The trendline bounce, support zone defense, and breakout from consolidation provide a solid basis for swing traders aiming to capture a move toward the all-time high. As long as price remains above the $3,265 level, bullish positions remain valid.