Two “if-this-then-that” scenarios
If price pushes above the recent swing high (~3 430–3 435)
→ Look for a move toward the 50% retracement zone at 3 415–3 416 (our next upside target).
If price drops below the recent swing low (~3 356–3 357)
→ It’ll likely slide down to the 21-day EMA at 3 342, which has acted like a magnet/bounce area.
Why the 21-day EMA matters
It’s sloping up beneath price (green trendline), so dips into it often spark fresh buying.
A buy-limit order around 3 342 gives you a low-risk entry with the trend still intact.
Overall bias
As long as gold stays above that rising trendline/21 EMA, the bulls remain in control.
Break the swing high → more upside.
Break the swing low → deeper pullback into support.
If price pushes above the recent swing high (~3 430–3 435)
→ Look for a move toward the 50% retracement zone at 3 415–3 416 (our next upside target).
If price drops below the recent swing low (~3 356–3 357)
→ It’ll likely slide down to the 21-day EMA at 3 342, which has acted like a magnet/bounce area.
Why the 21-day EMA matters
It’s sloping up beneath price (green trendline), so dips into it often spark fresh buying.
A buy-limit order around 3 342 gives you a low-risk entry with the trend still intact.
Overall bias
As long as gold stays above that rising trendline/21 EMA, the bulls remain in control.
Break the swing high → more upside.
Break the swing low → deeper pullback into support.
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.
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.