XAU/USD Bullish Breakout from Flag Pattern

18 Haz

Bullish Flag Formation: The price consolidated in a downward-sloping flag after a sharp bullish move. A breakout has occurred, signaling renewed buying pressure.

Support Zone: The breakout aligns with the horizontal support area around 3,392, reinforcing the bullish bias.

Upside Targets: Based on price structure and measured move projection:

First target: 3,435 – 3,452

Final target zone: 3,500+

Momentum Confirmation: The Ichimoku cloud supports bullish continuation as price trades above it, showing strong upward momentum.

Conclusion:
Gold appears to be resuming its uptrend after a brief consolidation. As long as price holds above the breakout level (around 3,392), the bullish targets remain valid. Ideal scenario for continuation traders looking for entries on minor pullbacks

20 Haz

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