Comprehensive Analysis of Gold
1️⃣ Market Structure & Pattern Formation
The gold displays a rounded bottom (cup-like formation of Arc), a bullish continuation pattern signaling potential upward momentum.
The price has broken out of the curved resistance, indicating strength in buying pressure.
2️⃣ Key Price Levels
Target Level: 🚀 2,920 USD (next bullish target).
Breakout Level: ⚡ 2,860 USD (important zone for confirmation).
Support Zones:
First support: 2,820 USD (possible retest area).
Second support: 2,780 USD (strong demand zone).
3️⃣ Trading Signals Based on Breakout Retest
📈 Buy Setup (Bullish Scenario)
Entry: If price retests 2,860 USD and holds above it (confirmation needed).
Target: 2,920 USD (next resistance).
Stop Loss: Below 2,840 USD (to prevent fakeouts).
📉 Sell Setup (Bearish Rejection)
Entry: If price fails to hold above 2,860 USD and shows a strong rejection.
Target: First support at 2,820 USD, second at 2,780 USD.
Stop Loss: Above 2,880 USD (for risk management).
4️⃣ Additional Considerations
Monitor candlestick patterns and volume confirmation before entering trades.
Use RSI & MACD for trend confirmation.
Avoid trading during high-impact news events for risk management.
📌 Conclusion
Bullish Bias is favored as long as price holds above 2,860 USD.
Bearish Scenario if rejection occurs at the retest zone.
Best to wait for confirmation before entering any trade.
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