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#XAUUSD #GOLD | H4 Analysis
Gold is just above the descending channel!
On Monday, it broke out of the channel, and now it has returned to its boundary. If it re-enters the channel, it could first drop toward the lower boundary at 3,750, where the rally could begin. If it stays outside the channel, the upward move could continue after breaking above 4,282.
Our main target for #GOLD remains $8,000.View quoted post on X
#XAUUSD #GOLD | H4 Analysis
Gold at a critical decision point!
Gold has broken above the descending channel, but there is still an important gray descending trendline ahead that it needs to overcome.
We started the week with a rise, but I believe the real move has yet to come. Now I’m watching two critical breakouts!
If the price breaks above the gray descending trendline and manages to hold above it, we could see a strong rally toward 4,282 first, followed by 4,500.
However, if another bearish breakdown occurs and the price slips below the red descending trendline, a pullback toward the 3,870 area wouldn’t be surprising. I believe such a decline could present a new long-term buying opportunity.
In short, gold is currently trapped between two critical trendlines. Whichever direction the breakout occurs, I expect the move to accelerate in that direction.
Our long-term $8,000 target for #Gold is still on the table.View quoted post on X
