Gold is currently facing resistance near the mid-Keltner Channel zone. Based on current structure and momentum, we anticipate a two-phase move:
🔻 Phase 1 – Short-Term Pullback:
Price is likely to reject the current resistance and move lower into the demand zone around 3310–3315. This retracement aligns with a healthy correction within a larger structure.
🟢 Phase 2 – Bullish Reversal:
After the pullback, we expect a strong bullish continuation toward the 3370–3373 area. This level represents the next significant resistance and profit target for long positions.
📌 Key Zones to Watch:
Demand Support: 3310–3315
Bullish Target: 3370–3373
Stop-Loss for Longs: Below 3308
🔻 Phase 1 – Short-Term Pullback:
Price is likely to reject the current resistance and move lower into the demand zone around 3310–3315. This retracement aligns with a healthy correction within a larger structure.
🟢 Phase 2 – Bullish Reversal:
After the pullback, we expect a strong bullish continuation toward the 3370–3373 area. This level represents the next significant resistance and profit target for long positions.
📌 Key Zones to Watch:
Demand Support: 3310–3315
Bullish Target: 3370–3373
Stop-Loss for Longs: Below 3308
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Related publications
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.