Currently, price is in a correction phase within this rising channel after hitting the upper resistance near $3,438. The pullback is moving toward the mid and lower channel zones, which is healthy for a bullish continuation. Gold is in a healthy pullback phase inside a bigger bullish trend. If support at $3,358 – $3,373 holds, expect an upward push back to $3,438 → $3,487 → $3,517 in the coming sessions. Only a clean break below $3,309 would signal a deeper bearish move.
Gold is likely to consolidate or retest the lower channel support ($3,358 – $3,373). If buyers defend this zone, the price is expected to bounce back toward $3,400 – $3,420 and eventually retest $3,438.
Key Price Zones
- Main Resistance: $3,438 (if broken, potential rally toward $3,487 → $3,517)**
- Immediate Support: $3,373 (first reaction level)
- Major Support: $3,358 (key level to protect bullish structure)
- Potential Higher Low Zone: Around $3,342.44
Expected Price Behavior
- If gold holds above $3,373 – $3,358, it is likely to form a new higher low near $3,342 – $3,358 before attempting to push higher.
- A successful breakout above $3,438 would indicate continuation of the bullish momentum targeting $3,487 and $3,517 ).
- Failure to hold above $3,358 may open the door for a deeper correction toward $3,309, but the overall trend remains bullish unless that level is broken.
Trend Outlook
- Short-Term Trend: Consolidation / corrective pullback within a bullish channel
- Medium-Term Trend: Bullish (higher lows and breakout structure intact)
- Long-Term Trend: Bullish as long as the channel holds above $3,309
Gold is currently in a pullback phase after a strong bullish breakout. The market is likely forming a higher low and may resume upward momentum once the $3,373 – $3,358 zone is confirmed as support. A breakout above $3,438 would validate a bullish continuation toward $3,487 - $3,517.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Gold is likely to consolidate or retest the lower channel support ($3,358 – $3,373). If buyers defend this zone, the price is expected to bounce back toward $3,400 – $3,420 and eventually retest $3,438.
Key Price Zones
- Main Resistance: $3,438 (if broken, potential rally toward $3,487 → $3,517)**
- Immediate Support: $3,373 (first reaction level)
- Major Support: $3,358 (key level to protect bullish structure)
- Potential Higher Low Zone: Around $3,342.44
Expected Price Behavior
- If gold holds above $3,373 – $3,358, it is likely to form a new higher low near $3,342 – $3,358 before attempting to push higher.
- A successful breakout above $3,438 would indicate continuation of the bullish momentum targeting $3,487 and $3,517 ).
- Failure to hold above $3,358 may open the door for a deeper correction toward $3,309, but the overall trend remains bullish unless that level is broken.
Trend Outlook
- Short-Term Trend: Consolidation / corrective pullback within a bullish channel
- Medium-Term Trend: Bullish (higher lows and breakout structure intact)
- Long-Term Trend: Bullish as long as the channel holds above $3,309
Gold is currently in a pullback phase after a strong bullish breakout. The market is likely forming a higher low and may resume upward momentum once the $3,373 – $3,358 zone is confirmed as support. A breakout above $3,438 would validate a bullish continuation toward $3,487 - $3,517.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
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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.