Gold is currently trading around $3,324, showing consolidation after a recent decline from the $3,345 region. The chart shows a bearish flag pattern forming after the sharp drop, indicating potential continuation of the downtrend. If gold fails to break above this region, sellers may push the price lower towards $3,301 and possibly $3,275.
The descending trend line adds further bearish pressure, limiting upside momentum unless gold decisively breaks and holds above $3,345. Overall, gold remains under short-term bearish sentiment, with the focus on support retests. Any bullish momentum will only be confirmed if the price closes above the flag and trendline resistance.
Key Points
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!
The descending trend line adds further bearish pressure, limiting upside momentum unless gold decisively breaks and holds above $3,345. Overall, gold remains under short-term bearish sentiment, with the focus on support retests. Any bullish momentum will only be confirmed if the price closes above the flag and trendline resistance.
Key Points
- Resistance Zones: $3,328 (0.618 Fib), $3,345 (flag top).
- Support Zones: $3,301 (Fib base), $3,284, and $3,275 (bearish extension).
- Trend Outlook: Short-term bearish unless price breaks above $3,345 with volume.
- Bearish Targets: $3,301 → $3,284 → $3,275.
- Bullish Invalidations: Break and close above $3,345 may shift bias to bullish.
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!
Trade active
Trade closed: target reached
Target achieved successfully$46=469 Pips Booked
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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.
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.