Gold Spot Daily Chart Analysis – Gold (XAUUSD) is showing strong momentum after breaking important levels. Here’s a simple analysis with clear buy and sell points, target, and stop-loss guidance for traders. Perfect for intraday and positional trading.
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Neal Bhai Reports: Gold (XAUUSD) Technical Analysis
Looking at the gold chart you’ve shared bhai, we can see some really exciting movements happening right now! Gold has been on a fantastic journey this year, and the technical setup looks quite promising for traders who know what they’re doing.
Current Market Situation
Gold is currently trading around $3,958 per troy ounce, showing strong bullish momentum within a well-defined ascending channel. The price has broken above several key resistance levels and is now testing the upper boundaries of this upward trend. This is exactly the kind of setup that smart traders love to see!
Gold Trading Plan
| Action | Price Level (USD) | Target (USD) | Stop Loss (USD) |
|---|---|---|---|
| Buy | 3,550 – 3,500 | 4,200 | 3,460 |
| Sell | 3,970 – 4,000 | 3,550 | 4,050 |
Analysis in simple words:
- Gold is currently around 3,956 USD.
- If it breaks above 4,000 USD, it can go up to 4,100 — 4,200 USD (buy opportunity).
- If it fails to hold above 4,000 USD, it can fall to 3,550 USD (sell opportunity).
- Stop-loss is important to protect your money.
Market Outlook & Strategy
The overall trend remains strongly bullish based on several factors:
- Ascending Channel Pattern: Gold is moving within a clear upward channel, which is a very bullish technical formation
- Federal Reserve Policy: Expectations of further rate cuts are supporting gold prices
- Safe Haven Demand: Global uncertainties are driving investors towards gold
- Technical Momentum: RSI and other indicators show room for further upside
Frequently Asked Questions
Q1: Is gold a good buy at current levels?
A: Yes, but wait for dips to $3,550-$3,500 levels for better risk-reward ratio. Current levels around $3,480 are near support.
Q2: What’s the stop loss for long positions?
A: Keep stop loss at $3,420. A break below this level would invalidate the bullish setup.
Q3: What are the key targets for gold?
A: Short-term target is $4,100, medium-term is $4,200, and extended target is $4,300-$4,500.
Q4: What news should I watch for gold trading?
A: Monitor Federal Reserve policy decisions, global geopolitical tensions, inflation data, and US dollar strength.
Q5: How long can this bull run continue?
A: Based on technical analysis and fundamental factors, the bull market could continue well into 2025, with potential targets above $5,000.