Gold dipped into the Support Zone but failed to sustain the breakdown below it. After briefly breaking below the zone, price has rebounded and is now attempting a short-term recovery.
However, structure remains bearish, with price trading below both the 50MA and 200MA, signalling continued downside pressure unless momentum shifts.
For bullish momentum to continue, we need to see a clean break and hold above $3,330, which may open the path toward $3,346, then $3,361.
If the move up doesn’t hold, the next reaction is expected near key support.
🔑 Key Levels:
Resistance:
$3,330 • $3,346 • $3,361 • $3,375
Support:
$3,306 • $3,287 • $3,271 • $3,242
📌 Stay patient and wait for confirmation before committing to a direction.
However, structure remains bearish, with price trading below both the 50MA and 200MA, signalling continued downside pressure unless momentum shifts.
For bullish momentum to continue, we need to see a clean break and hold above $3,330, which may open the path toward $3,346, then $3,361.
If the move up doesn’t hold, the next reaction is expected near key support.
🔑 Key Levels:
Resistance:
$3,330 • $3,346 • $3,361 • $3,375
Support:
$3,306 • $3,287 • $3,271 • $3,242
📌 Stay patient and wait for confirmation before committing to a direction.
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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.
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.