Gold (XAUUSD) is currently showing signs of potential upward movement. The first signal supporting this outlook is a test of the support line on the RSI indicator, often suggesting a possible rebound. The second confirmation is a bounce off the lower boundary of the bullish channel, indicating strength in the current uptrend.
If the price breaks above resistance and holds above 3265, it would confirm bullish momentum, opening the path toward the 3335 level and beyond.
However, there's an alternative scenario. A drop below 3115 would invalidate the bullish outlook, signaling a possible continuation of the downtrend toward the 3045 zone.
In the short term, a minor pullback to the 3205 support area is possible, potentially offering a buying opportunity before the trend resumes upward.
📅 Date: 16 April 2025
🕐 Time Frame: Short- to Medium-Term
➡️ Key Levels:
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Support: 3205, 3115
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Resistance: 3265, 3335
Note: Watch for price action around RSI and these key levels — they will be crucial in determining the next direction for XAUUSD.