Analysis :

Market Structure

• Strong Uptrend : The price is in a clear bullish structure, forming higher highs and higher lows.


• Momentum Surge : A sharp bullish move occurred recently, indicating strong buying pressure. Key Levels to Watch

Support Levels (Demand Zones)

$2,9680 - $2,9700 → Nearest support level where price may bounce.

$2,9500 - $2,9550 → Stronger support area; if price retraces further, this could be a key buy zone.

Resistance Levels (Supply Zones)

$2,9850 - $2,9900 → Immediate resistance where price is struggling to break.

$3,0000 Psychological Level → If bullish momentum continues, this could be the next major target.

Possible Trade Scenarios

Bullish Continuation (High Probability)

If XAUUSD breaks and closes above $2,9900, expect a move toward $3,0000.

A breakout with strong volume could push price even higher.

Retracement Before Uptrend Resumes

If gold pulls back to $2,9680 - $2,9700 and holds, it could offer a buying opportunity before the next leg up. Confirmation: Bullish candlestick patterns (e.g., pin bar, engulfing candle) near support.

Bearish Rejection (Low Probability)

If gold fails to break $2,9900, it could see a correction back to $2,9550.

A break below $2,9500 would shift the short-term bias bearish.

Happy Trading!