Gold is currently trading around 3353, approaching a key resistance zone near 3379. The price has broken below the ascending trendline and is now retesting it — suggesting a potential bearish reversal if the resistance holds.
📉 Bearish Scenario in Play:
Resistance Zone: 3379 (top of the range)
Key Level to Watch: 3356.8 (current rejection zone)
Support Target: 3300
Risk Zone: Above 3379
📌 A rejection from this level could initiate a move back toward the 3300 zone, aligning with the horizontal support from recent structure. Price action confirmation is recommended before entry.
📉 Bearish Scenario in Play:
Resistance Zone: 3379 (top of the range)
Key Level to Watch: 3356.8 (current rejection zone)
Support Target: 3300
Risk Zone: Above 3379
📌 A rejection from this level could initiate a move back toward the 3300 zone, aligning with the horizontal support from recent structure. Price action confirmation is recommended before entry.
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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.