📈 Overall Trend:
Gold is in a strong uptrend, showing bullish momentum.
The price is currently facing resistance but remains in a bullish structure.
📊 Key Levels:
🔴 Resistance Zone:
3,048 - 3,185 (A key area where price might struggle to break through).
🟡 Support Zone (Potential Buy Zone):
2,952 - 2,956 (A strong demand zone where price could bounce back up).
📉 Expected Price Action:
1️⃣ The price might face rejection at the 3,048 level and pull back.
2️⃣ A potential retracement towards the 2,952 - 2,956 support zone is expected.
3️⃣ If price finds strong support in this zone, a new bullish push could begin.
4️⃣ The ultimate target for the next bullish leg is 3,185.
🎯 Conclusion: Waiting for a pullback to the support zone before looking for buying opportunities targeting new highs.
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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.
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.