Gold is currently trading near $3,373 within an ascending channel but showing signs of weakness. A rejection near the $3,384–$3,390 resistance zone could trigger a downside move toward key supports at $3,350, $3,338, and $3,326. If price breaks below the channel midline, bearish momentum may strengthen. However, a bounce from support could push gold back toward the upper range. Keep an eye on breakout zones for the next move.
🔑 Key Levels to Watch
- Resistance: $3,384 → $3,390: Strong resistance zone
- Support: $3,350 → $3,338 → $3,326
- Breakout Zones: Below $3,338: Opens room to $3,310 and below. Above $3,390: May lead to fresh highs toward $3,410+
🧭 Trend Outlook
- Short-Term: Bearish bias within the ascending channel, especially if price breaks below mid-channel.
- Medium-Term: Neutral to bullish as long as the lower channel trendline holds.
- Momentum: Losing bullish momentum; potential for downside correction.
Price is at a decision point within the ascending channel. A clean break below the mid-channel and $3,365 area can accelerate downside correction. Stay alert to key support zones and any reversal signals.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
🔑 Key Levels to Watch
- Resistance: $3,384 → $3,390: Strong resistance zone
- Support: $3,350 → $3,338 → $3,326
- Breakout Zones: Below $3,338: Opens room to $3,310 and below. Above $3,390: May lead to fresh highs toward $3,410+
🧭 Trend Outlook
- Short-Term: Bearish bias within the ascending channel, especially if price breaks below mid-channel.
- Medium-Term: Neutral to bullish as long as the lower channel trendline holds.
- Momentum: Losing bullish momentum; potential for downside correction.
Price is at a decision point within the ascending channel. A clean break below the mid-channel and $3,365 area can accelerate downside correction. Stay alert to key support zones and any reversal signals.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Trade active
Gold is currently trading inside a rising wedge pattern. Price is hovering around $3,375, facing resistance near $3,390–$3,400. If bulls manage to break above this zone, gold may head toward $3,437. However, if price breaks below the lower wedge trendline (around $3,370), a drop toward $3,344, $3,324, or even $3,305 is likely. The wedge indicates weakening bullish momentum, so a downside move seems more probable unless strong fundamentals push it higher.
🔑 Key Levels to Watch
- Resistance: $3,400 → $3,437 → $3,450
- Support: $3,370 → $3,344 → $3,324
- Breakout Zones: Below $3,370: Opens room to $3,344 → $3,324 → $3,305 → $3,268. Above $3,400: May lead to fresh highs toward $3,437 → $3,450
Trade closed: target reached
Target achieved successfully$35=350 Pips Booked ($3380-$3355 Target)
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.
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.