gold on short bullish

Gold (XAU/USD) saw a strong breakout above $2,904.50 yesterday, confirming bullish momentum. The price is currently in an upward trend, with buyers pushing toward $2,928.60 as the next key resistance. However, the overall market structure suggests potential bearish pressure if key support levels fail.

Key Levels to Watch:

Buy Entry: Above $2,915.99 (Buy stop order)

Take Profit (TP): $2,922 – $2,928.60

Stop Loss (SL): $2,906 (A break below this invalidates bullish bias)

Bearish Breakdown Zone: Below $2,906, with targets below $2,900


Bullish Scenario:

If XAU/USD holds above $2,915.99, expect a push toward $2,922, and if momentum continues, $2,928.60 could be tested.

Buyers remain in control above $2,906, and dips may be seen as buying opportunities.


Bearish Scenario:

A break below $2,906 could lead to bearish reform, triggering a drop below $2,900.

If sellers dominate, we may see extended declines toward $2,890 or lower.