Gold Spot / U.S. Dollar
Short
Updated

Gold Breaks Out: Pullback Before the Next Move?

256
Gold Price Analysis (15-Minute Chart)

Current Price: $3,356.31
Date: May 24, 2025


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What Happened:

1. Gold was going down before May 23.


2. Then it broke out of the downtrend and started going up (this is called a trend breakout).


3. After the breakout, gold moved up strongly and reached around $3,360.




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What Might Happen Next (Prediction):

The price is now slowing down after a big move up.

It might drop down a bit to around $3,340 (a support level).

If the price holds there, it could bounce back up again.



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Key Levels:

Support (where price may stop falling): Around $3,340

Resistance (where price may stop rising): Around $3,360



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Simple Summary:

Gold had a strong move up, but now it might take a short break and drop slightly before possibly going up again.

Trade closed: target reached
Target reached successfully

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