Gold has been on a rollercoaster ride lately, dropping hard before catching some support around 3240. Now, it’s hovering around the 3310 mark, showing signs of indecision.
What’s Happening?
The recent drop came with heavy selling pressure, but the bounce-back hasn’t been as convincing.
We’re seeing a potential double bottom pattern forming at 3240, which could spark a bullish reversal, but only if buyers step up.
Key Levels to Watch
Resistance: 3320 and 3360 – A breakout here could open the door for further gains.
Support: 3280 and 3240 , A drop below these levels could reignite the selling pressure.
My Take
If gold can break and hold above 3320, we could see a push toward 3360. But if it stalls and dips below 3280, that bearish momentum might just continue. Stay sharp and watch those levels closely.
What’s Happening?
The recent drop came with heavy selling pressure, but the bounce-back hasn’t been as convincing.
We’re seeing a potential double bottom pattern forming at 3240, which could spark a bullish reversal, but only if buyers step up.
Key Levels to Watch
Resistance: 3320 and 3360 – A breakout here could open the door for further gains.
Support: 3280 and 3240 , A drop below these levels could reignite the selling pressure.
My Take
If gold can break and hold above 3320, we could see a push toward 3360. But if it stalls and dips below 3280, that bearish momentum might just continue. Stay sharp and watch those levels closely.
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.
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.