⬤ Gold blasted through a three-month ascending wedge during the latest session, extending a rally that's been building momentum since late 2025. The breakout pushed XAU decisively above $4,874—one of the strongest advances we've seen in early 2026.
⬤ The daily chart shows a clean rising channel that's been in play since October 2025, with gold consistently printing higher highs and higher lows. After consolidating within the wedge without breaking down, the metal finally punched through the upper boundary, confirming the trend is still very much alive.
⬤ Price action remains strong with solid daily candles and minimal selling pressure. Old resistance zones now sit below current levels and could provide support if we see any pullbacks. The steady slope suggests controlled momentum rather than a parabolic blow-off top. The next major target? The $5,000 level, which lines up with longer-term bullish projections.
⬤ This move matters beyond just gold traders. Sustained strength in XAU typically signals shifting macro conditions—think currency volatility and changing risk appetite across global markets. As we move deeper into 2026, gold's technical setup shows the bulls are still in control, with the metal continuing to attract serious attention as it climbs into uncharted territory.
