Dmitri Lysenko
⬤ Gold prices are pushing higher after a major technical breakout, showing that momentum in the precious metals market is picking up speed. XAU/USD recently broke above a rising channel that had contained price action for months, then surged even higher. This marks a shift from a steady uptrend into a more aggressive rally phase.
⬤ Gold broke out of the rising channel with a clear breakaway gap on January 18. This gap formed as price pushed through the upper boundary of the channel, showing strong buying pressure rather than just a brief spike. After the breakout, gold consolidated without falling back into the channel, meaning the old resistance level has now become support.
⬤ The latest trading session produced a runaway gap, which typically appears in the middle of strong trends, not at the end. Gold keeps making higher highs and remains well above the former channel structure. Price has climbed past the $2,800 level, with no attempt to fill either gap, suggesting buyers are still in control and sellers remain on the sidelines at these levels.
⬤ This move in XAU matters because sustained breakouts with multiple gaps often boost confidence across related markets. Gold is watched closely as both a precious metal and a macro indicator, and when it accelerates higher like this, it can shift sentiment across commodities and currencies. As long as price stays above the former channel and recent breakout zones, the technical picture points to continued upside with strong momentum in the near term.
Dmitri Lysenko
