GC1! Breakout Confirmation & Bullish Continuation Potential

Gold Futures Analysis – Breakout Confirmation & Bullish Continuation Potential

After an extended consolidation within a descending channel, Gold has successfully broken out, aligning with the overall bullish bias evident from the broader market structure.

Key Observations:

Overall Bias: Bullish, supported by higher-timeframe structure and trendline confluence.
Breakout Confirmation: Clean breakout above the descending channel, showing increased bullish momentum.
200 SMA Flip: Price reclaimed the 200-period SMA, reinforcing a shift in sentiment.
Key Zone Retests: The market is expected to retest the previous resistance (now support) around the 3345–3350 zone before any continuation.
Volume & RSI: Rising volume and RSI above 50 support further bullish continuation, with a short-term target toward the 3418 region.

Plan Ahead: I anticipate a short pullback to the support zone followed by bullish continuation if price holds above the breakout structure.
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