Yesterday, after the break of the key 3370 resistance, Gold corrected slightly toward 3383, then consolidated briefly in that area. From there, it launched into a strong new leg up, closing the day once more near the highs, around 3430.
📌 What’s important here is that the price did not even come back to retest the broken resistance — now turned support. Combined with the strong daily close near the high of the range, this gives us a clear message:
➡️ Bulls are in full control.
________________________________________
🔍 This Week – Three Key Breaks
So far this week, Gold has delivered three major breakouts:
• ✅ A clean breakout from the box consolidation that kept price stuck and indecisive last week
• ✅ A decisive break above the 3400 psychological figure
• ✅ A breakout above the symmetrical triangle resistance, which had been forming since late April
Each of these is significant on its own. Together, they suggest a shift toward a more aggressive bullish scenario.
________________________________________
🔮 What’s Next?
All these breakouts point to the potential for more gains ahead.
In fact, the next logical step could be an attempt to mark a new All-Time High.
My view remains the same:
Buying dips remains the strategy of choice, with a focus on the 3400 zone as a key support area, and a swing target around 3500.
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
📌 What’s important here is that the price did not even come back to retest the broken resistance — now turned support. Combined with the strong daily close near the high of the range, this gives us a clear message:
➡️ Bulls are in full control.
________________________________________
🔍 This Week – Three Key Breaks
So far this week, Gold has delivered three major breakouts:
• ✅ A clean breakout from the box consolidation that kept price stuck and indecisive last week
• ✅ A decisive break above the 3400 psychological figure
• ✅ A breakout above the symmetrical triangle resistance, which had been forming since late April
Each of these is significant on its own. Together, they suggest a shift toward a more aggressive bullish scenario.
________________________________________
🔮 What’s Next?
All these breakouts point to the potential for more gains ahead.
In fact, the next logical step could be an attempt to mark a new All-Time High.
My view remains the same:
Buying dips remains the strategy of choice, with a focus on the 3400 zone as a key support area, and a swing target around 3500.
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.