Gold remains in a strong uptrend but is currently testing a key resistance zone near $2,820. A rejection from this level could lead to a corrective move toward the $2,740-$2,720 support area, aligning with trendline support. A deeper pullback could extend toward $2,660 if bearish momentum increases.
However, a breakout above $2,820 with strong volume could push price toward new highs, with the next target around $2,850-$2,860. Current sentiment is bullish but overextended, so waiting for confirmation of either a rejection or breakout is crucial for the next move.
However, a breakout above $2,820 with strong volume could push price toward new highs, with the next target around $2,850-$2,860. Current sentiment is bullish but overextended, so waiting for confirmation of either a rejection or breakout is crucial for the next move.
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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.