GOLD (XAU/USD) 1H Analysis – Bullish Setup in PlayGold is currently trading around the 3349.90 level after breaking out of a key consolidation range. Price action has shown bullish momentum supported by a breakout above a short-term descending trendline, suggesting potential continuation toward higher levels.
🔍 Key Technical Outlook:
Pullback Area (3345–3335): This zone has been identified as a potential retest area. Price may revisit this zone before continuing its upward trajectory. A clean bounce from here would confirm bullish control.
Stop Loss: Positioned below recent structural lows at 3335, giving room for the pullback while protecting against trend invalidation.
First Target Zone: The next major resistance and potential reaction level sits around 3360–3375, where profit-taking may occur. This aligns with historical resistance.
Final Target: If momentum sustains above 3375, the broader bullish move could extend toward the 3400 psychological level.
🧭 Bias:
Bullish, as long as the price holds above the pullback zone and does not close below the 3335 level on the 1H timeframe.
⚠️ Risk Note: Always wait for confirmation on lower timeframes or candlestick validation before entering trades. Maintain proper risk management.
