Gold (XAU/USD) is trading near $3,366, holding steady after a breakout from a contracting triangle. On the 4-hour chart, price pierced $3,358 resistance and is now consolidating just below $3,375. Both the 50-EMA ($3,346) and 100-EMA ($3,347) have aligned as strong support, underscoring the bullish bias.
Momentum indicators back this setup. The RSI is at 62, pointing upward without being overbought, showing room for further gains. Meanwhile, the MACD histogram is widening, confirming momentum is shifting in favor of buyers.
Candlesticks show strong conviction, with long lower wicks defending dips around $3,338. If gold closes above $3,375, upside targets stand at $3,402 and $3,433, while support sits at $3,338 and $3,312.
