Gold has broken out of its descending trendline and is now consolidating above a key ascending trendline, signaling a potential bullish reversal. Price is hovering just below major resistance at $3,382.85, with eyes on $3,399.76 next.
🔍 Technical Highlights:
Break and retest of descending trendline
Key structure holding above $3,365
Potential bullish targets: $3,382, $3,399, and $3,420
🌍 Geopolitical Backdrop:
Ongoing Middle East tensions are supporting gold’s safe-haven appeal
Any escalation could drive strong bullish momentum in gold
Traders watching for increased volatility around regional developments
Trade Bias:
📈 Bullish above $3,365
📉 Bearish below $3,338
🗓 Major news and data ahead—stay alert as fundamentals align with technicals.
🔍 Technical Highlights:
Break and retest of descending trendline
Key structure holding above $3,365
Potential bullish targets: $3,382, $3,399, and $3,420
🌍 Geopolitical Backdrop:
Ongoing Middle East tensions are supporting gold’s safe-haven appeal
Any escalation could drive strong bullish momentum in gold
Traders watching for increased volatility around regional developments
Trade Bias:
📈 Bullish above $3,365
📉 Bearish below $3,338
🗓 Major news and data ahead—stay alert as fundamentals align with technicals.
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.