Gold Price Forecast: Resistance Break Could Trigger New Highs

2 Sep

🔹 Gold (XAU/USD) – Bullish Setup Analysis

1. Current Market Status

* Price: $3,481.99
* Timeframe: 30-Minute Chart
Gold is currently consolidating above the $3,470 support zone after a strong bullish move from the demand area. This indicates that buyers are maintaining control in the short term.

2. Demand Zone Identified

* Zone: Around $3,440
The price previously rebounded strongly from this demand zone, which highlights significant buyer interest. This zone is a critical foundation for the ongoing bullish structure.

3. Key Support Level

* Level: $3,470
This support level is currently holding well, preventing price from dropping lower. As long as price remains above this level, the bullish sentiment stays intact.

4. Resistance Area – First Target

* Target Zone: $3,495 – $3,505
The first resistance or target zone is near $3,500. A break above this level would confirm bullish strength and open the door for further upside.

5. Resistance Area – Second Target

* Target Zone: $3,528 – $3,550
The second resistance area represents the extended bullish target if momentum continues. This is the ultimate bullish target in this setup.

6. Bullish Outlook

As long as the price holds above $3,470 and breaks through the $3,500 zone, the probability of reaching $3,528 – $3,550 is high. Traders should watch for breakout confirmations or a retest of the first resistance area for potential entries.

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2 Sep

Dagangan aktif

from 3475, support area

4 Sep

Dagangan ditutup: sasaran tercapai