Yesterday, we noted that gold needed to close and hold above the $3,330 resistance to open the path toward $3,346 and potentially $3,375.
Since then, price rejected the intraday support and is now trending above the $3,330 level.
Currently, the 50MA is acting as dynamic resistance. A clean break above it could trigger a move toward $3,346 and possibly higher resistance zones.
However, if bullish momentum fades, price may drop back toward the key support area, where buyers could look to step in again.
🔑 Key Levels:
Resistance:
$3,330 • $3,346 • $3,361 • $3,375
Support:
$3,306 • $3,287 • $3,271 • $3,242
Since then, price rejected the intraday support and is now trending above the $3,330 level.
Currently, the 50MA is acting as dynamic resistance. A clean break above it could trigger a move toward $3,346 and possibly higher resistance zones.
However, if bullish momentum fades, price may drop back toward the key support area, where buyers could look to step in again.
🔑 Key Levels:
Resistance:
$3,330 • $3,346 • $3,361 • $3,375
Support:
$3,306 • $3,287 • $3,271 • $3,242
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.
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.