XAUUSD – Gold Forming Higher Lows with Range Bound CeilingGold remains bullish on the higher timeframes, holding a long-term ascending trendline from the daily.
However, price action has respected a clear horizontal resistance zone around 3392, forming a multi-tap ceiling.
On lower timeframes, we’re seeing a series of higher lows, suggesting buyers are still stepping in — but without clean breakouts, the market remains range-bound between 3345 and 3392.
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🧠 Bias:
Neutral-Bullish
– Price is coiling into the triangle
– A breakout above 3392 could open doors toward 3450
– But if we fail to hold the rising trendline, a deeper pullback toward 3294 is likely
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🎯 Trade Ideas:
📌 Break & Retest above 3392 = bullish continuation
📌 Break below trendline = short toward 3345 / 3294
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⚠️ Key Levels to Watch:
• Resistance: 3392 → 3450
• Support: 3345 → 3294
• Daily Trendline Support (in play)
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💡 Gold is compressing — breakout incoming. Watch the reaction at 3392 for directional clarity.
