Gold has just broken through the critical support level at 3300 USD/oz and is currently trading around 3307. This movement aligns with previous forecasts, as gold continues to maintain a short-term bullish cycle. The next target investors are eyeing is the 3350 zone — a new resistance level that could define the upcoming trend.
📈 Technical Analysis:
• EMA 09: Candles are consistently closing above the EMA 09 line, indicating that bullish momentum remains dominant.
• Momentum remains strong, though profit-taking pressure could emerge as prices approach the 3310–3320 range.
• Short-term support: 3290 – a potential rebound area in case of a pullback.
• Major resistance ahead: 3350 – a key level that must be breached to confirm continued upside momentum.
💡 Short-Term Trade Scenarios:
🔻 SELL XAU/USD
Entry Zone: 3348 – 3350
Take Profit (TP): 3328 – 3330
Stop Loss (SL): 3360
🔺 BUY XAU/USD
Entry Zone: 3305 – 3307
Take Profit (TP): 3325 – 3327
Stop Loss (SL): 3295
📈 Technical Analysis:
• EMA 09: Candles are consistently closing above the EMA 09 line, indicating that bullish momentum remains dominant.
• Momentum remains strong, though profit-taking pressure could emerge as prices approach the 3310–3320 range.
• Short-term support: 3290 – a potential rebound area in case of a pullback.
• Major resistance ahead: 3350 – a key level that must be breached to confirm continued upside momentum.
💡 Short-Term Trade Scenarios:
🔻 SELL XAU/USD
Entry Zone: 3348 – 3350
Take Profit (TP): 3328 – 3330
Stop Loss (SL): 3360
🔺 BUY XAU/USD
Entry Zone: 3305 – 3307
Take Profit (TP): 3325 – 3327
Stop Loss (SL): 3295
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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.
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.