Gold dipped earlier in the session as the $3,328 support level failed, pushing price into the upper boundary of the broader Support Zone. From there, we’ve seen a strong bounce, with price now trending around the $3,341 minor resistance.
Price has reclaimed both the 50MA and 200MA, suggesting bullish momentum may be returning. A clean break and hold above $3,356 would likely open the path toward higher resistance levels, including $3,370 and $3,383.
However, failure to break and hold above $3,356 could lead to another pullback toward the Support Zone. If that zone fails to hold, we may see a deeper move into the higher timeframe (HTF) support area below $3,300.
📌 Key Levels to watch:
Resistance:
$3,356 ‣ $3,383 ‣ $3,400 ‣ $3,416
Support:
$3,328 ‣ $3,300 ‣ $3,267 ‣ $3,241 ‣ $3,208 (HTF Support)
Price has reclaimed both the 50MA and 200MA, suggesting bullish momentum may be returning. A clean break and hold above $3,356 would likely open the path toward higher resistance levels, including $3,370 and $3,383.
However, failure to break and hold above $3,356 could lead to another pullback toward the Support Zone. If that zone fails to hold, we may see a deeper move into the higher timeframe (HTF) support area below $3,300.
📌 Key Levels to watch:
Resistance:
$3,356 ‣ $3,383 ‣ $3,400 ‣ $3,416
Support:
$3,328 ‣ $3,300 ‣ $3,267 ‣ $3,241 ‣ $3,208 (HTF Support)
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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.