"Gold Retests Key Level – Is This the Start of a Bullish Run?"

2 ביוני

🔹Gold (XAU/USD) – 30-Minute Chart Technical Outlook

▪️Market Structure:
Gold is currently showing signs of bullish continuation following a breakout above a previous resistance area, now turned RBS (Resistance Becomes Support) level near $3,308-$3,310.

▪️Key Levels:

* RBS Level: $3,308 (prior resistance, now acting as support)
* Target Area: $3,331
* Final Target: $3,351

▪️Price Action Insight:
After a brief consolidation, price has broken above short-term resistance and is retesting the RBS level, confirming it as new support. Bullish momentum is indicated by the rising volume during the breakout phase and a strong bullish candle retesting support.

▪️Trade Bias:

* Bullish Bias: As long as price holds above the RBS zone, continuation toward the target area at $3,331 is likely.
* If momentum sustains, final target at $3,351 remains in sight.
* A breakdown below the RBS level would invalidate this bullish setup and suggest reevaluation.

▪️Conclusion:
The current structure favors buyers, with confirmation of support at the RBS level providing a potential low-risk entry for a long position. Targets are clearly defined, with favorable risk-to-reward as long as price sustains above the breakout zone.

🔹Community Insight:
If you find this analysis helpful in your trading journey, feel free to share your thoughts or questions in the comments. Let’s work together to maintain a disciplined, technical approach to the markets.

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