Gold (XAU/USD) has shown strong bullish momentum, recently breaking through key resistance levels. The price is currently approaching a significant supply zone around the 3235–3250 area, where we may see some short-term rejection.
Two possible scenarios are forming:
1. Scenario 1 – Healthy Pullback Before Continuation (Preferred):
A potential pullback towards the 3150–3180 support zone (highlighted) could offer a better risk-reward buying opportunity. If price forms bullish confirmation (e.g., bullish engulfing, pin bar) in that area, we can expect a continuation of the uptrend toward 3350 and potentially 3450.
2. Scenario 2 – Breakout Continuation:
If gold maintains its bullish strength and breaks above the current resistance zone without a pullback, it may push directly toward the 3350–3450 region.
Key Levels:
• Resistance Zone: 3235–3250
• Support Zones: 3180, 3150, and 3100
• Bullish Targets: 3350 and 3450
Bias: Bullish
Strategy: Wait for price reaction in the marked zones. Enter on confirmation with proper risk management.
Two possible scenarios are forming:
1. Scenario 1 – Healthy Pullback Before Continuation (Preferred):
A potential pullback towards the 3150–3180 support zone (highlighted) could offer a better risk-reward buying opportunity. If price forms bullish confirmation (e.g., bullish engulfing, pin bar) in that area, we can expect a continuation of the uptrend toward 3350 and potentially 3450.
2. Scenario 2 – Breakout Continuation:
If gold maintains its bullish strength and breaks above the current resistance zone without a pullback, it may push directly toward the 3350–3450 region.
Key Levels:
• Resistance Zone: 3235–3250
• Support Zones: 3180, 3150, and 3100
• Bullish Targets: 3350 and 3450
Bias: Bullish
Strategy: Wait for price reaction in the marked zones. Enter on confirmation with proper risk management.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.