XAUUSD has already shown impressive bullish strength, with buyers driving price sharply higher before the market paused inside a bull flag. What looked like a pullback was really just a controlled pause, as sellers failed to do any meaningful damage to the broader bullish structure.
The important part is what happened next. Price broke cleanly above the upper boundary of the flag and cleared the nearby resistance zone in the same move. That tells me buyers are still in control. If this breakout area now holds as support, it could become the base for the next leg higher.
As long as buyers continue to defend the breakout zone, I expect XAUUSD to keep pushing toward 4,385. The breakout itself is already there; what matters now is whether the market can prove that old resistance has truly turned into new support.
If the retest holds, the bullish continuation setup remains very much alive.
The important part is what happened next. Price broke cleanly above the upper boundary of the flag and cleared the nearby resistance zone in the same move. That tells me buyers are still in control. If this breakout area now holds as support, it could become the base for the next leg higher.
As long as buyers continue to defend the breakout zone, I expect XAUUSD to keep pushing toward 4,385. The breakout itself is already there; what matters now is whether the market can prove that old resistance has truly turned into new support.
If the retest holds, the bullish continuation setup remains very much alive.
Trade closed: target reached
The bulls are attacking the 4375 level but have yet to break through, so I will close a portion of my long position here.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.