Gold is rebounding after sweeping Friday's low liquidity, driven by a weak dollar. Despite the upside move, the 1-hour structure remains bearish. We anticipate a potential false breakout above $3,307.00 followed by a sell-off back to the $3,271.00 lows. If the bulls can regain control, gold may bounce back and resume its growth. However, failure to do so could lead to a decline towards the $3,245 support level
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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.