After a correction of about 50 prices in yesterday's session, gold is showing a necessary "breathing" in the long-term uptrend. This is a positive signal, showing that the market is accumulating before continuing its journey towards a new ATH around the 3500 area.
Currently, gold prices are fluctuating within the boundary zone limited by two upper/lower trendlines - creating a clear structure of support and resistance. Avoid trading against the trend if this boundary zone is broken.
📌 Trading plan:
Strategy: Prioritize BUY when price sweeps to support zone
Active buy zone: 3375 (reaction price)
Potential buy zone: 3363 (deep support)
Target: 3431 in the immediate future → further towards 3490
Support: 3375 – 3363
Resistance: 3418 – 3431 – 3490
Currently, gold prices are fluctuating within the boundary zone limited by two upper/lower trendlines - creating a clear structure of support and resistance. Avoid trading against the trend if this boundary zone is broken.
📌 Trading plan:
Strategy: Prioritize BUY when price sweeps to support zone
Active buy zone: 3375 (reaction price)
Potential buy zone: 3363 (deep support)
Target: 3431 in the immediate future → further towards 3490
Support: 3375 – 3363
Resistance: 3418 – 3431 – 3490
Trade active
Gold remains affered, recedes to the $3,360 zone post-ECBGold adds to Wednesday's pullback and approaches the $3,360 region per troy ounce on the back of the decent rebound in the US Dollar and the extra recovery in US Treasury yields across the curve.
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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.
JOIN OUR FREE TELEGRAM GROUP t.me/+7rqP7ECMjpUxMzBl
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
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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.