Gold continues to trade within a defined structure, now pulling back from local highs after rejecting near the open. Price is approaching key support just above $3,362, which now acts as the decision point for the next leg.
Buyers held this zone previously, but momentum has weakened and the next move will be critical:
→ $3,395.76 is the upside trigger; a confirmed 30m close above could open the door toward $3,407 and higher
→ A failure to hold $3,362.60 support would expose $3,358 and possibly accelerate a bearish continuation
→ The structure remains range bound, but compression is building beneath resistance
This is a pivotal zone for gold short term. Either bulls reclaim control with a strong breakout above $3,395 or sellers step in on a confirmed breakdown below $3,362 to reset structure lower.
#XAUUSD #GoldAnalysis #PriceAction #BreakoutLevels #SupportResistance
Buyers held this zone previously, but momentum has weakened and the next move will be critical:
→ $3,395.76 is the upside trigger; a confirmed 30m close above could open the door toward $3,407 and higher
→ A failure to hold $3,362.60 support would expose $3,358 and possibly accelerate a bearish continuation
→ The structure remains range bound, but compression is building beneath resistance
This is a pivotal zone for gold short term. Either bulls reclaim control with a strong breakout above $3,395 or sellers step in on a confirmed breakdown below $3,362 to reset structure lower.
#XAUUSD #GoldAnalysis #PriceAction #BreakoutLevels #SupportResistance
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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.