Gold remains bullish on the higher timeframes, holding a long-term ascending trendline from the daily.
However, price action has respected a clear horizontal resistance zone around 3392, forming a multi-tap ceiling.
On lower timeframes, we’re seeing a series of higher lows, suggesting buyers are still stepping in — but without clean breakouts, the market remains range-bound between 3345 and 3392.
⸻
🧠 Bias:
Neutral-Bullish
– Price is coiling into the triangle
– A breakout above 3392 could open doors toward 3450
– But if we fail to hold the rising trendline, a deeper pullback toward 3294 is likely
⸻
🎯 Trade Ideas:
📌 Break & Retest above 3392 = bullish continuation
📌 Break below trendline = short toward 3345 / 3294
⸻
⚠️ Key Levels to Watch:
• Resistance: 3392 → 3450
• Support: 3345 → 3294
• Daily Trendline Support (in play)
⸻
💡 Gold is compressing — breakout incoming. Watch the reaction at 3392 for directional clarity.
However, price action has respected a clear horizontal resistance zone around 3392, forming a multi-tap ceiling.
On lower timeframes, we’re seeing a series of higher lows, suggesting buyers are still stepping in — but without clean breakouts, the market remains range-bound between 3345 and 3392.
⸻
🧠 Bias:
Neutral-Bullish
– Price is coiling into the triangle
– A breakout above 3392 could open doors toward 3450
– But if we fail to hold the rising trendline, a deeper pullback toward 3294 is likely
⸻
🎯 Trade Ideas:
📌 Break & Retest above 3392 = bullish continuation
📌 Break below trendline = short toward 3345 / 3294
⸻
⚠️ Key Levels to Watch:
• Resistance: 3392 → 3450
• Support: 3345 → 3294
• Daily Trendline Support (in play)
⸻
💡 Gold is compressing — breakout incoming. Watch the reaction at 3392 for directional clarity.
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.