Gold respected the trendline very well yesterday. After almost touching 3295, it slowly climbed up to 3337 and closed the day above 3320. 3337 is an important resistance level to watch. If this level holds, gold will drop and may test 3280 again before another bullish run. However, if the level is broken, we could see the price test 3400 resistance again.
Personally, I do feel gold needs another leg down before bullish run. Let's see what the market plays out today.
Personally, I do feel gold needs another leg down before bullish run. Let's see what the market plays out today.
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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.