The XAUUSD (Gold) 30-minute chart is showing a strong bullish recovery after a prolonged downtrend. Price initially moved lower within a descending channel, confirming bearish momentum, but buyers stepped in around the highlighted demand zone near 4,060–4,100, creating a solid base. Following this accumulation phase, gold broke higher with strong bullish candles and is now trading above the rising support cloud, indicating that market sentiment has shifted in favor of the bulls. The chart suggests that as long as price remains above the key support area around 4,169, buyers are likely to maintain control.
🎯 1st Target: 4,246.279
🎯 2nd Target: 4,332.985
A sustained move above the current consolidation range could accelerate bullish momentum toward these projected targets. However, traders should monitor the support zone closely, as a break below it may weaken the bullish outlook. Overall, the technical structure favors buy opportunities on confirmed pullbacks, with the chart pointing toward further upside potential in gold prices. 📈✨
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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.