Gold is currently struggling to break through the 3389 resistance level. From previous analysis, 3370 had already been identified as a strong resistance area, and its breakout has supported further upward movement.
Technical View:
The bullish wedge pattern presents an ambiguous scenario — while there’s clear upward momentum, this pattern can easily reverse. Price is trading in a local range with a high probability of retesting 3390. If buyers maintain control and break above 3390, the next potential targets are: 3420 and 3450
You may find more details in the chart.
Trade wisely best of luck Buddies.
Ps: Support with like and comments for better analysis Thanks for Understanding.
Technical View:
The bullish wedge pattern presents an ambiguous scenario — while there’s clear upward momentum, this pattern can easily reverse. Price is trading in a local range with a high probability of retesting 3390. If buyers maintain control and break above 3390, the next potential targets are: 3420 and 3450
You may find more details in the chart.
Trade wisely best of luck Buddies.
Ps: Support with like and comments for better analysis Thanks for Understanding.
Trade active
Gold may face selling pressure, potentially triggering a break below 3390, with a decline toward the 3350 support level.
If the price finds strong bullish momentum from the 3305 support zone, we could then expect a further bullish rally.
Let’s see how the market reacts — stay tuned for more updates as the price action unfolds.
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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.