The gold market has shown strong momentum after rebounding from the key support zone around 3309, which previously acted as a demand area.
🔍 Current Setup:
Price is currently consolidating just above the 3,335 POI (Point of Interest) after a solid bullish move.
There's potential for two key scenarios
Scenario 1 – Bullish Breakout
If price holds above 3,320–3,335 and breaks the minor consolidation, we could see a bullish continuation targeting:
1st Target 3,391.78 POI
2nd Target 3,417.37 POI
Extended target: 3,447.53 resistance
This would confirm bullish structure continuation, supported by the recent strong recovery.
Scenario 2 – Retest and Bounce 🔄
If price dips back to support near 3,309, look for bullish price action or a reversal pattern for a long entry
support area has shown strong reactions in the past and could serve as a base for the next leg up.
Trading Plan:
Watch for price behavior at 3,335 and 3,309
Break and retest = bullish signal.
Failure to hold support = invalidation of setup, wait for new structure.
Conclusion: Gold is setting up for a potential breakout. Monitor support and resistance levels closely. Trade with proper risk management and patience. 📈
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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.