Gold is consolidating around 3,361 USD after a strong rebound from the key support zone at 3,284 USD — previously a major swing low in the existing bullish structure. Recent price action on the H4 timeframe is forming a potential Cup and Handle pattern, indicating that buying pressure remains present after each retracement.
The 3,351 USD resistance area now acts as a confluence zone, where the descending trendline from July intersects with a key horizontal level. Price behavior at this zone will likely determine the next directional move. A successful breakout would confirm the bullish continuation structure, with room to revisit the previous highs.
Current technical signals suggest that buyers are gradually regaining control, as higher lows emerge and upward momentum builds from the major support area.
The 3,351 USD resistance area now acts as a confluence zone, where the descending trendline from July intersects with a key horizontal level. Price behavior at this zone will likely determine the next directional move. A successful breakout would confirm the bullish continuation structure, with room to revisit the previous highs.
Current technical signals suggest that buyers are gradually regaining control, as higher lows emerge and upward momentum builds from the major support area.
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Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
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.