Gold is showing a potential bullish continuation after a successful breakout and retest of a long-term descending trendline.
✅ Key Points:
Price has broken above the trendline resistance and is now retesting the zone (support near $3,342)
Current price is holding above the support zone with a bullish structure
If the support holds, we may see a rally towards the next resistance levels:
▶️ TP1: $3,387
▶️ TP2: $3,421
▶️ TP3: $3,434
🔴 Invalidation:
A strong break below $3,342 may shift the bias to bearish, targeting $3,324 and lower.
📌 Conclusion:
As long as price stays above the support zone and holds structure, bulls remain in control. Keep an eye on price action near $3,360 for confirmation.
✅ Key Points:
Price has broken above the trendline resistance and is now retesting the zone (support near $3,342)
Current price is holding above the support zone with a bullish structure
If the support holds, we may see a rally towards the next resistance levels:
▶️ TP1: $3,387
▶️ TP2: $3,421
▶️ TP3: $3,434
🔴 Invalidation:
A strong break below $3,342 may shift the bias to bearish, targeting $3,324 and lower.
📌 Conclusion:
As long as price stays above the support zone and holds structure, bulls remain in control. Keep an eye on price action near $3,360 for confirmation.
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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.