Gold has rallied back into a converging resistance zone — the intersection of the upper short-term trendline and longer-term descending trendline. Price is showing signs of hesitation here.
Price is pressing against the red diagonal resistance.
This level has rejected multiple times.
Setup targets a pullback toward mid-channel support near 3,407, then 3,388.
Stop positioned above resistance to protect against a breakout continuation.
Price is pressing against the red diagonal resistance.
This level has rejected multiple times.
Setup targets a pullback toward mid-channel support near 3,407, then 3,388.
Stop positioned above resistance to protect against a breakout continuation.
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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.