Gold - Above 3370 Is Bullish Territory – But 3360 Must Hold📆 What happened yesterday?
After more than a week of frustrating, sideways price action, Gold finally broke out above the key 3370 resistance zone.
The breakout was clean and impulsive, with TRADENATION:XAUUSD pushing to an intraday high around 3400.
Following that move, price printed a small double top near the high and began a modest correction — perfectly normal after such a breakout. At the time of writing, Gold trades at 3385, still holding above former resistance.
📈 Why this breakout matters:
The daily close at 3396 came in strong and near the top, leaving behind a clear Marubozu candle
This kind of price action signals conviction and momentum
The breakout confirms what I’ve been anticipating for days — the range is resolved, and the market is choosing the bullish path
🎯 What to expect next:
If price stabilizes above 3400, the road to 3450 opens — which is the target mentioned in my previous analyses
That area represents the next major resistance and likely magnet for price if bulls stay in control
🧭 Trading Plan:
For me, the plan is now simple:
✅ Buy the dips — especially on a potential retest of the 3370–3375 broken resistance, which now turns into support
❌ Negation comes only with a daily close below 3360, which would invalidate this breakout and raise questions
📌 Conclusion:
The breakout has finally come. After days of coiling, Gold chose the upside.
Momentum is building, structure is clean, and bulls are back in control — unless 3360 fails.
Until then, I remain bullish, looking to buy dips into strength. 🚀
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
