GOLD/USD Bullish Breakout Confirmation GOLD/USD Bullish Breakout Confirmation 🚀📈
📊 Technical Analysis Overview:
The chart illustrates a bullish breakout above a well-defined resistance zone around $3,390–$3,400. Price action has decisively closed above this resistance, suggesting strong bullish momentum.
🔍 Key Observations:
🟦 Support Zone:
Marked clearly between $3,250–$3,280, this level has held firm multiple times (highlighted with green arrows and orange circles), confirming buyer interest and market structure.
🟦 Resistance Turned Support:
The previous resistance zone around $3,390–$3,400 has now potentially turned into a new support. Price retesting this zone and holding would further validate the breakout.
📈 Future Projections:
The chart anticipates a retest-pullback-continuation scenario:
Pullback to new support 📉
Bullish continuation toward $3,460+ 🎯 if support holds.
✅ Bias:
Bullish as long as price remains above the $3,390 zone. Break and hold below would invalidate the bullish setup.
📌 Strategy Tip:
Look for confirmation on the lower timeframes (e.g., bullish engulfing or pin bar) on the retest before entering long.
