#GOLD | Technical Analysis
The price is currently moving around the pivot level at 3347, which is the key to determining the next direction.
Bullish Scenario:
As long as it stabilizes above 3347, and especially breaks 3366, we expect the bullish momentum to continue toward the resistance at 3404, with potential to test 3431 and the key resistance at 3483.
Bearish Scenario:
If the price breaks below 3347, it may lead to a correction down to 3329, and if this level fails, the move could extend toward the support zone around 3265–3245.
Resistance: 3366, 3404, 3431
Support: 3329, 3265, 3245
The price is currently moving around the pivot level at 3347, which is the key to determining the next direction.
Bullish Scenario:
As long as it stabilizes above 3347, and especially breaks 3366, we expect the bullish momentum to continue toward the resistance at 3404, with potential to test 3431 and the key resistance at 3483.
Bearish Scenario:
If the price breaks below 3347, it may lead to a correction down to 3329, and if this level fails, the move could extend toward the support zone around 3265–3245.
Resistance: 3366, 3404, 3431
Support: 3329, 3265, 3245
Trade active
Gold followed through on its bullish setup, pushing up from the pivot at 3347 and reaching the resistance target at 3404, gaining approximately $55.At this stage, the market is likely to consolidate as long as price remains below 3404. A minor pullback toward 3376 or 3366 is possible.
A confirmed 1H close above 3404 would open the path for further upside toward 3431, 3444, and potentially 3483.
If price fails to hold and drops below 3366 or 3347, bearish pressure could return in the short term.
Key Levels:
Resistance: 3431, 3444, 3483
Support: 3376, 3366, 3347
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.