GOLD TECHNICAL ANALYSIS H1 CHART WAIT FOR THIS LEVEL BREAKOUT

This is a 1-hour chart of Gold CFDs (XAU/USD) from TradingView, showing a technical analysis setup. Here’s what it suggests:

1. Uptrend and Resistance:

The price is in an uptrend, approaching a blue trendline (resistance level).

The most recent high reached around $2,918 before pulling back.



2. Support Zones:

Two blue horizontal lines near $2,911 and $2,906 indicate support levels where buyers may step in.



3. Potential Price Movement (Black Arrow):

The chart suggests a retracement to the support area.

After finding support, the price could rebound upward, continuing the bullish trend.



4. Key Levels to Watch:

$2,918 (current price level)

$2,911 - $2,906 (potential buy zone)

Uptrend resistance (near $2,940 or above)




This analysis suggests a possible buying opportunity around the support levels, aiming for another bullish leg up.