(XAU/USD) Bullish Reversal Setup with Trendline Support and EMA

Trendline Support (Blue line):

The chart identifies a clear ascending trendline marked with three key bounce points (yellow circles), indicating strong bullish structure and buyer interest at higher lows.

Key Support Zone:

Around $3,334–$3,336, aligning with the 50 EMA (red line), suggesting a potential pullback to this area before the next move up.

EMA Cross Analysis:

Price is hovering just under the 200 EMA (blue line at $3,343.90).

If it holds above the 50 EMA and rebounds from the trendline, it may attempt a bullish breakout through the 200 EMA.

RSI (Relative Strength Index):

RSI is hovering near 53.75, slightly bullish, leaving room for upward momentum.

🎯 Target Levels:
First Target: $3,357.92

Near prior highs and resistance.

Second Target: $3,391.73

Indicates a full projected move (~1.92% upside) from the trendline support region.

🧭 Strategy Outlook:
Bullish Setup: Buy on pullback to the trendline (~$3,334–$3,336), with stops slightly below the trendline.

Invalidation: A break and close below the ascending trendline would weaken the bullish outlook.