Gold CFD forum
Idea: 8/4: Watch Support at 3343–333…
Good morning, everyone!
Last Friday, gold rallied strongly, driven by a combination of favorable economic data and bullish technical signals, decisively breaking above the 3337–3343 resistance zone. During the subsequent pullback, price action remained firm above 3337, followed by a secondary upward move.
From a technical standpoint, the structure suggests the potential for continued upward consolidation, with the possibility of filling the gap near 3396. However, significant resistance remains between 3372 and 3378 — failure to break through this zone decisively may result in a short-term pullback before further gains.
Key levels to watch:
Initial support: 3348 and 3337–3343 zone
Major support: 3312–3300 zone (a break below could signal deeper downside risk)
Trading Strategy:
Focus on intraday setups around these critical areas. Look for buy opportunities on dips as long as support holds, while remaining cautious of sharp pullbacks near strong resistance.

ENTRY - 3359
TP - 3366
TP - 3372
SL - 3356

