Gold has continued its bullish journey breaking through previous consolidation areas after a strong trendline breakout Now price is reacting around a major resistance zone near $3,357 – $3,370
Key Observations
Resistance Area Price is currently testing a strong resistance zone where sellers may emerge
Possible Scenarios
If bulls maintain control and break above $3,370 we could see the bullish momentum continue
If sellers step in at resistance we may see a deeper pullback toward the $3,318 – $3,288 support zone before a potential continuation
Support Zones to Watch
First support: $3,318
Deeper support levels: $3,288 and $3,245
Technical Insights:
Previous consolidations have provided strong platforms for bullish rallies
A retest of support could offer a healthier structure for further upside
Conclusion
Gold is at a critical resistance level. Traders should wait for confirmation: a clean breakout for continuation or a pullback for a better long setup. Either way this is a key area to watch for the next move!
Key Observations
Resistance Area Price is currently testing a strong resistance zone where sellers may emerge
Possible Scenarios
If bulls maintain control and break above $3,370 we could see the bullish momentum continue
If sellers step in at resistance we may see a deeper pullback toward the $3,318 – $3,288 support zone before a potential continuation
Support Zones to Watch
First support: $3,318
Deeper support levels: $3,288 and $3,245
Technical Insights:
Previous consolidations have provided strong platforms for bullish rallies
A retest of support could offer a healthier structure for further upside
Conclusion
Gold is at a critical resistance level. Traders should wait for confirmation: a clean breakout for continuation or a pullback for a better long setup. Either way this is a key area to watch for the next move!
Trade active
360pips runnTrade closed: target reached
taken
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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.
Related publications
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.