Gold (XAUUSD) Sets Up for Bullish Continuation From Key Support

Market Analysis – June 26

Gold (XAUUSD) is setting up for a bullish continuation from the key support level at $3,300. Over the past several months, gold has maintained a generally bullish trajectory, with the ongoing uptrend experiencing temporary consolidation above the $3,300 mark. The 9-day Simple Moving Average (SMA), currently hovering around $3,370, has recently been tested yet remains unbroken, reinforcing the prevailing bullish sentiment. The Stochastic Oscillator, currently in oversold territory, indicates diminishing selling momentum and suggests a possible bullish reversal. Together, these technical indicators point toward gold preparing to resume its dominant upward trend following a brief period of correction.

Gold Key Levels

Resistance Levels: $3,450, $3,500, $3,600
Support Levels: $3,300, $3,100, $2,790

Gold Long-Term Trend: Bullish

From a technical perspective, the price structure reflects a bullish outlook on the higher timeframe, with a recent pullback toward the $3,300 support cluster. This level aligns with previous swing lows and the midpoint of the recent consolidation zone. A recent high formed near $3,450 before a modest decline, suggesting a possible liquidity sweep ahead of a renewed bullish impulse. This retracement is better interpreted as a natural correction within an ongoing bullish trend, rather than a reversal.

Looking ahead, XAUUSD seems positioned to continue its upward move if it maintains support above $3,300. A strong breakout and close above $3,450 could pave the way for a move toward $3,500, with a potential extension to $3,600 if bullish strength increases. Alternatively, if price dips further, a rebound from the $3,250 area may establish a bullish reversal pattern, signaling renewed accumulation. As long as price stays above the $3,300 demand zone, the dominant outlook remains bullish, aligning with recent forex signals that anticipate upward continuation.

Gold Short-Term Trend: Bullish

On the four-hour chart, bearish pressure is starting to fade as XAUUSD finds support around the $3,300 level. The Stochastic Oscillator is beginning to curve upward from oversold conditions, highlighting reduced selling momentum and the possibility of renewed bullish activity. Should bulls manage to reclaim the $3,360–$3,450 zone, the price could gain traction toward the $3,500 resistance level.

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