Congrats to everyone who followed my long positions before last Thursday’s market close!
Gold opened higher today, bringing us the first profit of the new week — a great start with accurate direction!
Currently, gold is facing selling pressure near the historical high around 3360. On the 1H chart, technical indicators look solid. Once the pressure is absorbed, there’s a good chance the price may reach new highs today.
However, be cautious: If the upward trend weakens or stalls, there’s a risk of a double top formation — a bearish sign for the bulls.
📌 Key zones to watch today (as marked in the chart):
Support: Around 3308
Resistance: Around 3369
With price at elevated levels, a breakout above resistance often leads to a pullback to retest previous support, so adjust strategies flexibly.
Trading Advice:
Focus on support/resistance flips
Prioritize sell high, buy low within the zone
Manage risk and avoid chasing price blindly
Gold opened higher today, bringing us the first profit of the new week — a great start with accurate direction!
Currently, gold is facing selling pressure near the historical high around 3360. On the 1H chart, technical indicators look solid. Once the pressure is absorbed, there’s a good chance the price may reach new highs today.
However, be cautious: If the upward trend weakens or stalls, there’s a risk of a double top formation — a bearish sign for the bulls.
📌 Key zones to watch today (as marked in the chart):
Support: Around 3308
Resistance: Around 3369
With price at elevated levels, a breakout above resistance often leads to a pullback to retest previous support, so adjust strategies flexibly.
Trading Advice:
Focus on support/resistance flips
Prioritize sell high, buy low within the zone
Manage risk and avoid chasing price blindly
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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.
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.