Gold is currently trading around $3,350, showing signs of consolidation after recent gains. Technical indicators suggest a cautious approach, with key resistance at $3,365 and support at $3,345. Market sentiment remains bullish due to ongoing geopolitical tensions and economic uncertainties. Traders should monitor these levels closely and manage risk appropriately.
📊 Key Levels
Resistance: $3,365, $3,400, $3,450
Support: $3,345, $3,300, $3,285
📈 Trading Strategy
🔸 Bullish Scenario:
Breakout Above $3,365: Could target $3,400 and potentially $3,450
Support Holding Above $3,345: May lead to a retest of $3,400
🔸 Bearish Scenario:
Failure to Hold Above $3,345: May lead to a retest of $3,300 or lower
Break Below $3,300: Could extend the correction towards $3,285
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
Resistance: $3,365, $3,400, $3,450
Support: $3,345, $3,300, $3,285
📈 Trading Strategy
🔸 Bullish Scenario:
Breakout Above $3,365: Could target $3,400 and potentially $3,450
Support Holding Above $3,345: May lead to a retest of $3,400
🔸 Bearish Scenario:
Failure to Hold Above $3,345: May lead to a retest of $3,300 or lower
Break Below $3,300: Could extend the correction towards $3,285
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 (XAU/USD) is currently testing the top of its support zone after a strong upward move was rejected near the $3,400 level. The $3,339–$3,342 range is acting as a minor support and decision point. If the price stays above this zone, it could open the door for a move back toward $3,400 and possibly up to $3,435. However, if the price drops below this support, it may signal a shift to bearish momentum. Overall, bulls could regain control if the price breaks above the recent local high.
Note
Gold is rising and moving toward $3,390, nearing a one-month high, as weak U.S. economic data has raised fresh concerns about the economy.
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.