๐ฅ Gold ( $XAU ) Holding Firm for Next Leg Up? ๐ฅ
$XAU is showing strength, trading above key supports and exhibiting bullish reversal patterns on daily charts. The longer-term bullish case remains intact with analysts eyeing the $5,000 handle. However, sustaining gains requires fresh catalysts as tailwinds may weaken.
โก Technical Breakdown & Key Levels:
ยท Trend: Bullish structure, but in a high-volatility phase.
ยท Support: Key zones at 4920-4950 and 4800-4850. A major level sits at 4772-4740.
ยท Resistance: Break above 5092 confirms bullish continuation toward 5141 & 5342.
๐ฏ My Strategy Prediction: BULLISH
Looking for long opportunities on pullbacks toward support, anticipating a test of higher resistance.
ยท Entry Zone: 4985 โ 5020
ยท Stop-Loss: 4890 (below immediate support)
ยท Take-Profit: TP1: 5045 | TP2: 5085 | TP3: 5125 | TP4: 5165 DYOR
โ Question for You:
Gold Next Move?
โข Bullish Continuation
โข Deep Correction
โข Sideways Chop
What's your take? ๐
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