GOLD TECHNICAL ANALYSIS H4 TIMEFRAME

Current Price: ~$3,371

Trend: Currently breaking out of a downtrend channel, with a strong upward push.

Chart Pattern: Price has formed a rounded bottom and is moving higher, indicating bullish momentum


🔼 Resistance Levels (Targets):

1. First Resistance / Target: ~3,404.54 – 3,403.61
→ This is the first breakout target after crossing the trendline.


2. Final Resistance / Target: ~3,462.40 – 3,490.39
→ This zone represents the major resistance where bulls might face selling pressure.



🔽 Support Level:

Support Zone: ~3,310 – 3,320
→ This is the previous bottom and the bullish reversal zone, acting as strong support.



📈 Projected Bullish Move (According to Chart Arrows):

A pullback may occur after breaking above the trendline.

Then, price is expected to rally toward 3,403, retest, and eventually target 3,462 – 3,490 area.



✅ Key Indicators Noted:

The Ichimoku cloud shows bullish bias.

Chart shows higher lows, indicating strengthening buyer interest.

Bullish candle formations near the breakout zone support upward continuation.



🧭 Conclusion (Trade Idea):

Bias: Bullish

Entry: On breakout and retest above the trendline (around 3,360–3,370)

Targets:

1st Target: 3,404

2nd Target: 3,462

Final Target: 3,490


Stop Loss: Below 3,320 support zone