📈 GOLD (XAUUSD) ANALYSIS UPDATE 📈
Date: 6 May 26 | Wednesday
Price has shown strong bullish momentum from the H4/H1 support zone of 4520–4550, indicating a shift in the short-term trend. This movement broke through minor resistance and is approaching the key breakout area near 4690–4700. This zone may serve as an initial reaction point, where the price could consolidate or pull back slightly.
If buyers maintain control and the price holds above 4690, the next targets are 4710 and 4740. While the trend is bullish, retracements are likely. A healthy continuation would involve a break and retest of the 4690 zone.
If the price fails to hold above the breakout area, a pullback to 4620 is likely, with a deeper correction possible at the 4550 support zone. As long as the price remains above 4550, the overall remains bullish, with better opportunities on pullbacks.
