Yesterday’s market remained calm without any significant swings, unlike the strong movements we’ve seen previously. Today, however, appears to be a critical turning point as the market prepares for a directional breakout.
📊 Technical Overview:
Gold is showing signs of retesting the resistance around 3240, while short-term support lies at 3194–3188. If this resistance holds and the price fails to break above, a double-top pattern may form—potentially triggering a major drop between Wednesday and Thursday.
If the price breaks above 3240, there may be around $30 of additional upside, but this is likely to mark the formation of a short-term top, followed again by a decline.
🎯 Key Bearish Target Zones: 3137-3106
Whether it breaks upward or downward, a bearish opportunity is building. Stay patient, follow the price action, and avoid emotional decisions to catch the move at the right moment.
📊 Technical Overview:
Gold is showing signs of retesting the resistance around 3240, while short-term support lies at 3194–3188. If this resistance holds and the price fails to break above, a double-top pattern may form—potentially triggering a major drop between Wednesday and Thursday.
If the price breaks above 3240, there may be around $30 of additional upside, but this is likely to mark the formation of a short-term top, followed again by a decline.
🎯 Key Bearish Target Zones: 3137-3106
Whether it breaks upward or downward, a bearish opportunity is building. Stay patient, follow the price action, and avoid emotional decisions to catch the move at the right moment.
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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.
Objective market analysis, accurate trading signals, welcome everyone to join and experience the fun of making money
t.me/+3slQbdahSmJmOTE0
t.me/+3slQbdahSmJmOTE0
Related publications
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.