Gold is currently consolidating in a tight range near the 3355–3358 zone, showing indecision ahead of a potential breakout. Based on supply and demand dynamics, here’s what to watch:
---
🔼 Bullish Scenario
If the H4 candle closes above 3365, this would confirm a bullish breakout above the immediate supply zone. In that case, expect upside momentum to target key resistance levels:
🎯 3385 – Minor resistance
🎯 3400 – Major resistance and potential reversal zone
A confirmed breakout with strong volume could open room for a short-term bullish rally.
---
🔽 Bearish Scenario
On the flip side, if the H4 candle closes below 3340, it would signal weakness and a possible rejection from the current range. This breakdown could shift the momentum to the downside, targeting the following support levels:
🛑 3320 – Near-term support
🛑 3300 – Critical demand zone
Failure to hold 3300 could indicate further bearish pressure in the coming sessions.
---
🔼 Bullish Scenario
If the H4 candle closes above 3365, this would confirm a bullish breakout above the immediate supply zone. In that case, expect upside momentum to target key resistance levels:
🎯 3385 – Minor resistance
🎯 3400 – Major resistance and potential reversal zone
A confirmed breakout with strong volume could open room for a short-term bullish rally.
---
🔽 Bearish Scenario
On the flip side, if the H4 candle closes below 3340, it would signal weakness and a possible rejection from the current range. This breakdown could shift the momentum to the downside, targeting the following support levels:
🛑 3320 – Near-term support
🛑 3300 – Critical demand zone
Failure to hold 3300 could indicate further bearish pressure in the coming sessions.
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.
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.