"Gold Price Analysis: Will the Bull Run Continue?"

Sep 7

Technical Analysis of XAUUSD

1. Current Market Structure

Gold is currently in a strong uptrend, forming a series of Higher Highs (HH) and Higher Lows (HL). This shows consistent bullish momentum after breaking consolidation phases.

2. Key Breakout Point

A strong breakout occurred from the consolidation zone, followed by a pullback toward the RBS (Resistance Becomes Support) level. This confirms buyers are still active in the market.

3. Demand Zone for Bull Run

The demand zone lies around 3,560 – 3,575, which is a strong support area. Price is expected to retest this zone before resuming the bullish move.

4. Short-Term Price Action

If price holds above the demand zone and forms bullish confirmation (like bullish engulfing or strong rejection), a continuation to the upside is highly probable.

5. Target Areas

1st Target: Around 3,608
2nd Target: Around 3,631
Final Target: Around 3,651
These levels align with previous resistance zones and Fibonacci extensions.

6. Bullish Bias

As long as price remains above the demand zone and does not break below 3,550, the market outlook remains bullish for continuation.

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Sep 8

Trade active

from RBS level , 3582,

Sep 8

Note

Sep 9

Trade closed: target reached