Gold dipped below 3300 today and bounced back, though the gap near 3289 remains unfilled.
This shows buying interest is active, but also reveals that some sideline capital is still waiting for a full retest.
Combined with selling pressure on the rebound, it’s clear that bullish strength is currently limited.
—
🔍 Two Possible Scenarios from Here:
1️⃣ If support proves firm during consolidation, bulls may regain momentum and push higher
2️⃣ If support fails, price is likely to fill the 3289 gap before launching the next leg up
📌 Current Trade Outlook:
✅ Bullish trend remains intact
✅ Regardless of the short-term path, the direction is upward
✅ Watch resistance at 3331, with a key zone near 3348
—
⚠️ Note: The daily chart structure still needs further correction.
If volume remains weak after a second dip and a failed bounce follows, bears may take over again — in that case, the next downside target would be around 3258–3228
📩 Conclusion: Stay long-biased, but react flexibly to support strength and volume shifts.
This shows buying interest is active, but also reveals that some sideline capital is still waiting for a full retest.
Combined with selling pressure on the rebound, it’s clear that bullish strength is currently limited.
—
🔍 Two Possible Scenarios from Here:
1️⃣ If support proves firm during consolidation, bulls may regain momentum and push higher
2️⃣ If support fails, price is likely to fill the 3289 gap before launching the next leg up
📌 Current Trade Outlook:
✅ Bullish trend remains intact
✅ Regardless of the short-term path, the direction is upward
✅ Watch resistance at 3331, with a key zone near 3348
—
⚠️ Note: The daily chart structure still needs further correction.
If volume remains weak after a second dip and a failed bounce follows, bears may take over again — in that case, the next downside target would be around 3258–3228
📩 Conclusion: Stay long-biased, but react flexibly to support strength and volume shifts.
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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.
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.