Gold is currently showing uncertain movement, but there's a bullish bias building as long as the price holds above the 3350 support zone. Price has broken out of a triangle pattern, signalling a shift in momentum. A clean uptrend channel is forming.
3350 acts as a critical support, and holding above this level keeps the bullish structure intact.
If Gold maintains above 3350, and breaks clearly above 3370, a continuation to 3420 is likely. A failure below 3350 could weaken the bullish setup and lead to further downside testing 3340/3325.
📌 Trader Suggestion:
Wait for confirmation above 3370 for long entries. As long as 3350 support holds, buying on dips within the channel remains favourable with targets at 3400–3420.
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3350 acts as a critical support, and holding above this level keeps the bullish structure intact.
If Gold maintains above 3350, and breaks clearly above 3370, a continuation to 3420 is likely. A failure below 3350 could weaken the bullish setup and lead to further downside testing 3340/3325.
📌 Trader Suggestion:
Wait for confirmation above 3370 for long entries. As long as 3350 support holds, buying on dips within the channel remains favourable with targets at 3400–3420.
If You like this idea if you have on Opinion about this analysis share in comments.
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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.