Gold (XAU/USD) is currently trading inside an ascending channel, showing a bullish trend. However, a key trigger line at $2,936 will determine the next move.
Bullish Scenario:
If price stays above $2,936, we can expect a push toward $3,028 and potentially $3,085.
A breakout above $3,085 would confirm strong bullish momentum, targeting new highs.
Bearish Scenario:
A break below $2,936 could signal weakness, leading to a drop to $2,880.
If selling pressure continues, the next major support is at $2,803.
Trading Plan:
Long Entry: If price holds above $2,936, with a target of $3,028 – $3,085.
Short Entry: If price breaks below $2,936, targeting $2,880 – $2,803.
Risk Management: Use stop-losses near key levels to minimize risk.
Watch Volume & Price Action!
A breakout with strong volume confirms the trend direction.
Low volume means potential fakeouts—wait for confirmation before entering trades.
What do you think? Share your views in the comments!