Gold Rebounds After Filling Gap >> Bullish Continuation in Sight

Jun 9

Hello guys!

Gold (XAU/USD) is showing signs of strength on the 4H chart after filling a key gap around the $3,290 level and bouncing off it with bullish intent.

🔹 What I see:
– Price previously broke out of a broad descending channel, flipping the structure bullish
– After forming a rising wedge, Gold corrected lower and filled the gap
– The zone around $3,290 acted as solid support, and the current bounce suggests bulls are regaining control

📈 Outlook:
If this bounce holds and momentum builds, the next area of interest is clearly marked:

🎯 First Target: $3,466 – an area of prior structure and possible supply

📍 Current Price: $3,329
🟢 Bias: Bullish (above $3,290)
🔴 Invalidated below: $3,244

This setup offers a favorable risk-to-reward opportunity if the structure continues holding. Keep an eye on price action near the recent local highs for confirmation.

7 days ago

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