Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Gold prices (XAU/USD) posted strong gains in the previous session, achieving the projected technical target at $3,392 and recording a high of $3,393, in line with prior bullish expectations.
Technical Outlook – 4-hour timeframe:
The metal is trading firmly above the 50-period simple moving average, which continues to support the prevailing uptrend. Price action along the rising trend line further reinforces bullish momentum. Meanwhile, the Relative Strength Index (RSI) has entered overbought territory, suggesting the possibility of a limited corrective pullback without undermining the broader upward bias.
Likely Scenario:
As long as intraday trading remains above the 3,367 support level—and more broadly above 3,357—the bullish scenario remains favored. Upside targets begin at 3,399 as the first resistance, with a confirmed break above the 3,400 psychological barrier opening the way for further gains toward 3,417. Conversely, the return of selling pressure would be confirmed by a decisive break below 3,357, exposing the metal to a downside move targeting 3,333.
Warning: Risks remain high amid ongoing trade and geopolitical tensions, and all scenarios should be considered.
Risk Disclaimer: Trading CFDs involves risks, and therefore all scenarios may be plausible. The content above is not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 3357.00 | R1: 3400.00 |
| S2: 3333.00 | R2: 3417.00 |
| S3: 3315.00 | R3: 3441.00 |
