XAUUSD has been consolidating, moving inside a descending channel after a sharp rejection from resistance. Structure shows a wedge followed by a triangle pattern inside the downward trendline, pointing to compression before a potential breakout. A bullish scenario opens if price bounces from support near 3,315 and breaks above the 3,380 resistance handle. Overall, broader context shows gold locked in a sideways move but coiling into a corrective structure that could fuel a bullish rally.📉 Key Levels:
- Buy trigger: Rejection at 3,320
- Buy zone: 3,310–3,320 support area.
- Target: 3,380 then 3,431.
- Invalidation: Sustained close below 3,270 support.
💡 Risks:
- Failure to break the downward trendline, keeping bearish momentum intact.
- Weak buying volume near support, leading to breakdown continuation.
- Broader macro pressure from USD strength or yields limiting upside momentum.
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XAUUSD is rebounding from support after a prolonged selloff that pushed price into the 3,310 area. The structure shows a clear downward trendline with multiple lower highs and lower lows, but a fresh reaction at support hints at a potential corrective bounce. If price holds above 3,300, bulls could drive it toward 3,357 before challenging the broader downtrend. Momentum remains sideways overall, but the wedge-like structure suggests a short-term upside relief within the larger bearish channel.
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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.
💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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.