$XAU – Massive Momentum Building, Bulls Aiming for New Heights 🚀
Trading Plan: Long $XAU (Gold/USDT)
Entry Range: 4,845 – 4,855
Stop Loss (SL): 4,810
Take Profit 1 (TP): 4,875
Take Profit 2 (TP): 4,890
Take Profit 3 (TP): 4,900.95
Market Analysis:
The chart shows a strong recovery after a brief consolidation period. Price is currently holding firm above the key support levels, and the Supertrend indicator remains in a solid buy zone. We see a significant bullish candle trying to break the recent local high, supported by increasing volume.
The RSI(6) is hovering around 69.50, indicating strong upward momentum without being overextended into the "extreme overbought" territory yet. As long as the price maintains its structure above the 4,840 zone, the path of least resistance is upward. The depth chart also shows a healthy wall of bids supporting this move. Expect a push toward the psychological resistance of 4,900.
Trade $XAU here 👇
