Gold (XAUUSD) Remains Bullish With Potential Upside Toward $3,100 Resistance Zone

Market Analysis – March 6

Gold (XAUUSD) remains bullish with potential upside toward the $3,100 resistance zone. The MACD (Moving Average Convergence Divergence) indicator signals bullish momentum, with the MACD line (38.07) positioned above the signal line (29.75), indicating continued strength in the uptrend. The 9-day SMA (Simple Moving Average) at $2,910 serves as dynamic support, reinforcing the bullish market structure. If the price stays above this moving average, the likelihood of further upward movement increases. However, if momentum weakens, a temporary pullback to retest support levels may occur before another push higher.

Gold Key Levels

Resistance Levels: $2,880, $2,960, $3,100
Support Levels: $2,790, $2,580, $2,470

Gold Long-Term Trend: Bullish

Gold (XAUUSD) recently rebounded from a key order block (OB) around $2,880, confirming strong demand at this level. The Fair Value Gap (FVG) previously acted as a liquidity zone, allowing buyers to enter the market and drive the price higher. The current structure remains bullish, with higher highs and higher lows, indicating that buyers continue to dominate the market.

If XAUUSD sustains its bullish momentum, the next major resistance level to watch is $2,960. A breakout above this level could lead to an extended rally toward the $3,100 psychological resistance. However, if the price fails to break above $2,960, it may retest the support zone between $2,880 and $2,790 before another attempt to push higher. The overall bullish trend remains intact as long as key support levels hold.

Gold Short-Term Trend: Bullish

The 9-period SMA at $2,920 currently acts as dynamic resistance, but the price remains above the key order block (OB) around $2,880, indicating strong demand. MACD continues to show bullish momentum, with the MACD line (5.88) staying above the signal line (5.40), reinforcing the potential continuation of the uptrend.
If the price holds above the $2,880 support zone, buyers could push toward the $2,960 resistance level in the short term. Additionally, traders may consider forex signals to capitalize on potential market movements. A breakout above $2,960 could trigger further upside toward the $3,100 psychological resistance.

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