3.26 Market Overview: XAU Gold Breaks Through Trendline Bullish Structure
XAU is in an upward opening wedge channel, while the smaller scale is a converging equilateral triangle, with a large possibility of a bullish breakout
XAU has been consolidating at 4514, pulling back to the trendline to go long, and breaking through the descending trendline is also a long option, bullish on XAU
4428 is the Fibonacci 0.618 retracement of the upward trend, which is also effective support
Enter long at 4514 on the left side, or go long on the right side after a break and pull back above, with a stop at 4428, targeting around 4600 and 4645
If the right side entity breaks 4514 without pulling back, short in the direction of the trend, with a stop at the previous high of 4602, targeting around 4428 and 4325
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