XAUUSD (Gold) is currently trading around the $3,337 mark and showing signs of uncertainty near a key resistance zone. The price action indicates a potential breakout attempt above a descending trendline, but the market is struggling to sustain momentum.
🔍 Key Technical Levels:
• 🔵 Resistance Zone: ~$3,337 (also marked by the descending trendline)
• 🟡 Support Zone: ~$3,271 (recent lower low)
• 📍 Potential Targets:
• Bullish Breakout: $3,350+
• Bearish Rejection: $3,200
🔺 Bullish Scenario:
If XAUUSD breaks and holds above the descending trendline and resistance zone (~$3,337), a continuation towards $3,350 or higher could be expected. Volume confirmation and candle structure will be key.
🔻 Bearish Scenario:
If price fails to break above the trendline and faces rejection, a retracement towards $3,200 or even the previous low support at $3,271 is likely.
🧱 Chart Annotations:
• Choch (Change of Character) and BOS (Break of Structure) are marked to highlight the recent trend reversals.
• Price previously touched a major low support, suggesting strong buyer interest.
• The current zone shows consolidation and hesitation, emphasizing the importance of upcoming price action.
Gold is at a critical decision point. Traders should watch for a confirmed breakout above resistance for long positions, or a rejection for short setups. Manage risk carefully as volatility increases around these levels.
🔍 Key Technical Levels:
• 🔵 Resistance Zone: ~$3,337 (also marked by the descending trendline)
• 🟡 Support Zone: ~$3,271 (recent lower low)
• 📍 Potential Targets:
• Bullish Breakout: $3,350+
• Bearish Rejection: $3,200
🔺 Bullish Scenario:
If XAUUSD breaks and holds above the descending trendline and resistance zone (~$3,337), a continuation towards $3,350 or higher could be expected. Volume confirmation and candle structure will be key.
🔻 Bearish Scenario:
If price fails to break above the trendline and faces rejection, a retracement towards $3,200 or even the previous low support at $3,271 is likely.
🧱 Chart Annotations:
• Choch (Change of Character) and BOS (Break of Structure) are marked to highlight the recent trend reversals.
• Price previously touched a major low support, suggesting strong buyer interest.
• The current zone shows consolidation and hesitation, emphasizing the importance of upcoming price action.
Gold is at a critical decision point. Traders should watch for a confirmed breakout above resistance for long positions, or a rejection for short setups. Manage risk carefully as volatility increases around these levels.
Trade active
price is at the Resistance Level, lets see where it moves
Certified Pro Trader | 9+ years exp | 97% accuracy | Join Sarah Analytics : t.me/SarahAnalyticsSignals
For Gold: t.me/SarahAnalyticsSignals
For Gold: t.me/SarahAnalyticsSignals
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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.
Certified Pro Trader | 9+ years exp | 97% accuracy | Join Sarah Analytics : t.me/SarahAnalyticsSignals
For Gold: t.me/SarahAnalyticsSignals
For Gold: t.me/SarahAnalyticsSignals
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.