Gold (XAU/USD) – Bullish Breakout and Key Resistance Zones Ahead
Gold has recently broken out of a descending channel on the 4H timeframe, indicating a potential shift in market structure. The breakout was strong and clean, suggesting momentum is building up for further upside.
Price is now approaching a series of key resistance zones, which I’ve marked as potential short-term targets:
3387.025
3406.948 – 3409.846
3421.203
As long as price holds above the breakout zone and maintains support around 3318–3330, the bullish scenario remains intact. A rejection from the 3271 demand zone also supports this move.
I'll be watching price action closely near each resistance for signs of continuation or reversal. This idea is based purely on technical analysis and market structure.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.