technicaltrading

XAU (Gold) Technical Analysis: Consolidation Holds, Bullish Potential Intact
After the recent rally, XAU price has stabilized above its key micro support, signaling a healthy consolidation phase rather than a trend reversal. The recent pullback has been shallow, suggesting that selling pressure remains limited and that bullish momentum is still in control.
The overall structure remains intact, pointing to a potential continuation of the uptrend, with room for another upward impulse if technical conditions confirm.
Key Observations:
Critical Micro SupportThe price is holding consistently above this support, which acts as a pivotal level for the next directional move.Any retest of this zone will reveal whether buyers are ready to push for another leg higher.Shallow RetracementThe pullback did not breach major Fibonacci retracement levels, indicating strong buyer dominance.Such minor corrections are healthy, allowing the market to absorb liquidity and consolidate the base for the next rally.Trend StructureDespite the current sideways action, the bullish wave structure remains intact, keeping the medium-term uptrend scenario valid.A decisive break above resistance with accompanying volume would signal a confirmed breakout and pave the way for further gains.Outlook & ScenariosBullish case: Continuation of the uptrend with another push toward higher resistance zones, supported by momentum and strong market participation.Cautious case: Extended consolidation or repeated tests of micro support before resuming the upward trajectory.Proper risk management remains crucial due to gold’s volatility and sensitivity to macroeconomic events.Conclusion:

Gold ($XAU) is holding a strong position above micro support, suggesting that buyers retain control. The shallow retracement after the recent rally indicates that another upward move is possible, with the key confirmation coming from a breakout above resistance with solid volume.

Следуя недавнему восходящему импульсу, цена XAG остается стабильной выше микроуровня поддержки, сигнализируя о здоровой консолидации после ралли. Этот откат был относительно мелким, что указывает на то, что давление продаж было недостаточным для компрометации существующей бычьей структуры.
Общая структура остается нетронутой, что предполагает, что рынок может готовиться к потенциальному продолжению волны 5 согласно принципам волновой теории Эллиота. Это оставляет место для еще одного восходящего толчка, если технические условия совпадут.