#USGDPUpdate

Gold attracts strong follow-through buying, bulls seem unstoppable. 😵

#CPIWatch #XAUUSD Trading Note

Breakout Confirmation: Price cleared the $4,375–$4,380 resistance zone (previous all-time high) and extended beyond $4,400, signaling renewed bullish momentum.

Trend Structure:

50-day SMA: Rising steadily; currently near $4,160, acting as dynamic support.

Price remains above the SMA, reinforcing the uptrend.

Momentum Indicators:

MACD: Line above signal and in positive territory → bullish momentum intact.

RSI: At 81, indicating overbought conditions → risk of short-term pause or consolidation.

Near-Term Outlook:

Strong trend supported by SMA and MACD.

Overbought RSI suggests potential shallow pullback or range-bound trade before next leg higher.

Key Levels:

Support: $4,160 (50-day SMA).

Resistance: $4,400 and above.

Bias:

Bullish as long as price holds above rising SMA.

Any dip toward SMA likely corrective, not a trend reversal.