Gold has seen a sharp bullish breakout from the falling wedge pattern (marked by the triangle) leading to an aggressive rally toward the 3211 zone
We are now approaching a possible exhaustion point Price is currently sitting around 3211 where we could see a short-term pullback based on previous structure and momentum slowdown
Key Support Levels 3167 3156
If price forms a lower high and starts rejecting around current levels we could see a retracement toward these support zones
Outlook:
Short-term bias: Bearish correction
Traders watch for reaction and confirmations before jumping in A healthy pullback could offer new buying opportunities if support holds What’s your outlook on Gold from here? Let me know in the comments!
We are now approaching a possible exhaustion point Price is currently sitting around 3211 where we could see a short-term pullback based on previous structure and momentum slowdown
Key Support Levels 3167 3156
If price forms a lower high and starts rejecting around current levels we could see a retracement toward these support zones
Outlook:
Short-term bias: Bearish correction
Traders watch for reaction and confirmations before jumping in A healthy pullback could offer new buying opportunities if support holds What’s your outlook on Gold from here? Let me know in the comments!
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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.