After a strong rally, XAUUSD moved into a controlled consolidation phase and formed a bull flag. Sellers tried to slow the advance, but they were unable to push price into a meaningful reversal. The structure remained orderly, while buying pressure continued to build beneath the surface.
Price has now broken above the flag’s descending resistance, suggesting that the next bullish leg may already be developing.
The cleaner opportunity would come if price retests the broken flag boundary and holds above it. A successful retest would confirm that buyers have turned former resistance into support and remain in control.
My target for this setup is around 4,516.
This view becomes less convincing if price falls back below the breakout area and fails to hold there.
This is a personal market view, not financial advice. Wait for confirmation and manage your risk carefully.
Price has now broken above the flag’s descending resistance, suggesting that the next bullish leg may already be developing.
The cleaner opportunity would come if price retests the broken flag boundary and holds above it. A successful retest would confirm that buyers have turned former resistance into support and remain in control.
My target for this setup is around 4,516.
This view becomes less convincing if price falls back below the breakout area and fails to hold there.
This is a personal market view, not financial advice. Wait for confirmation and manage your risk carefully.
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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.