Gold bulls seem unstoppable as price breaks cleanly above the $3,900 mark β confirming fresh bullish momentum for XAU/USD. This breakout reinforces our near-term bullish outlook, with buyers firmly in control after Mondayβs strong rally.
π Technical view: RSI is trading above 70, showing strong momentum β but also warning traders to expect short-term pullbacks before continuation. Any correction is likely to find support between $3,900β$3,895, offering potential re-entry zones for disciplined buyers. A decisive break below that zone could extend the pullback toward $3,865β$3,863, aligning with the 100-hour SMA and trendline support from last weekβs lows near $3,800.
π‘ Our bias: We stay bullish above $3,895, looking for continuation toward $3,930β$3,950, while managing risk tightly below key structure levels.
βοΈ Scalpersβ note: Wait for pullbacks and confirmation candles β avoid chasing overbought momentum blindly.
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