Clear Break & Retest: Gold Now Eyes a Push Toward $4,405
Hello everyone, Helene here!
Right now, XAUUSD is a textbook example of a market trading inside a well-defined ascending channel, with price consistently respecting both the upper and lower boundaries of the structure.
Weve just seen price break above a clear resistance zone and successfully retest it. This area also aligns with the golden pocket from the recent bullish leg, which makes it a highly critical zone to monitor. If this level continues to hold as support, it will act as a strong bullish structural confirmation, increasing the probability that price will extend toward 4,405, which is the upper boundary of the channel.
As long as price maintains above this support zone, the bullish setup remains valid. If not, then the short-term bullish outlook may be interrupted, potentially leading to a deeper corrective move.
Always remember to apply proper risk management.
Good luck, and trade safely.