Gold Forming a Bulllish Flag- Wacthing for Breakout Confirmation

This chart shows a potential bullish flag pattern forming on the daily timeframe for Gold Spot (XAU/USD). The pattern is composed of a strong flagpole (an impulsive upward move), followed by a descending consolidation channel, which represents a correction phase.

The price is currently moving within the flag’s range. A breakout above the flag’s resistance trendline would confirm the bullish continuation pattern, potentially targeting levels above 3,500 USD. Until a confirmed breakout occurs, price action may continue to consolidate within the flag structure.

Flagpole: Sharp upward rally from mid-March to mid-April 2025

Correction: Downward sloping parallel channel

Breakout Level: Around 3,300–3,320 USD

Volume: Decreasing during the correction, which aligns with bullish flag behavior

Suggested Action: Monitor for breakout confirmation before entering long positions

This chart is for educational and technical analysis purposes only. Always use proper risk management.