Gold (XAU/USD) shows the price currently trading within a defined range between the support level at 3272.581 and the resistance zone around 3367.926.
Technical Highlights:
- Support Level: Strong demand seen around 3272.581 where price has previously rebounded.
- Resistance Zone: 3367.926 marks a key supply area that has held several past tests.
- Current Structure: A bullish corrective move appears underway with the potential to test the target area at 3338.838, aligning with a minor resistance zone.
- Price Behavior: Recent rejection from the support zone indicates bullish pressure; if momentum holds, price is likely to challenge the next resistance.
Next Target: 3338.838
Outlook: If gold sustains above the mid-range support, bullish continuation toward 3338.838 is favored. However, price must break minor resistance cleanly for further upside confirmation.
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Technical Highlights:
- Support Level: Strong demand seen around 3272.581 where price has previously rebounded.
- Resistance Zone: 3367.926 marks a key supply area that has held several past tests.
- Current Structure: A bullish corrective move appears underway with the potential to test the target area at 3338.838, aligning with a minor resistance zone.
- Price Behavior: Recent rejection from the support zone indicates bullish pressure; if momentum holds, price is likely to challenge the next resistance.
Next Target: 3338.838
Outlook: If gold sustains above the mid-range support, bullish continuation toward 3338.838 is favored. However, price must break minor resistance cleanly for further upside confirmation.
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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.
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.