GOLD ANALYSIS 🟡 | Bullish Setup Building
Price is retracing after completing a corrective wave structure (A–B–C) under major descending trendline resistance. We're now sitting just above the 200 EMA and entering key demand zones aligned with ascending trendline support.
🔹 Confluences:
Trendline support + demand zone
200 EMA holding as dynamic support
Corrective structure complete (Wave C)
Higher timeframe bullish structure intact
📌 Buy Zones: $3,220 – $3,180
🎯 Target: Retest of $3,434
🛑 Invalidation: Clean break below $3,160
Price is setting up for a potential bullish continuation — watching for bullish confirmation from these demand zones. Patience is key.
Price is retracing after completing a corrective wave structure (A–B–C) under major descending trendline resistance. We're now sitting just above the 200 EMA and entering key demand zones aligned with ascending trendline support.
🔹 Confluences:
Trendline support + demand zone
200 EMA holding as dynamic support
Corrective structure complete (Wave C)
Higher timeframe bullish structure intact
📌 Buy Zones: $3,220 – $3,180
🎯 Target: Retest of $3,434
🛑 Invalidation: Clean break below $3,160
Price is setting up for a potential bullish continuation — watching for bullish confirmation from these demand zones. Patience is key.
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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.