Gold began the new trading week with moderate volatility and clean technical structure, offering both breakout and support-based opportunities.
🔹 Monday Recap
Price initially faked a breakout above a key intraday resistance, triggering a stop-loss of -80 pips on the first attempt.
A second setup from a rising trendline support aligned with bullish market structure, producing a +150 pip gain.
Later, a short-term pullback allowed for a partial TP of +55.6 pips, ending the day with a net total of +130.5 pips.
📍 Technical Notes:
Price remains inside a rising wedge pattern.
Multiple rejections at the upper horizontal resistance zone suggest consolidation before a breakout.
Intraday structure continues to respect higher lows, maintaining bullish pressure.
🔮 Outlook Ahead (Projection)
While this is not financial advice, broader sentiment and recent headlines suggest continued investor demand for safe-haven assets.
Based on recent reports:
Increased central bank gold accumulation is providing long-term demand stability.
Market is closely watching upcoming U.S. economic data and Fed commentary, which could influence short-term price direction.
If the structure holds, a confirmed breakout above the horizontal resistance zone may target the $3,140–$3,160 range.
However, failure to break resistance cleanly may trigger a short-term pullback toward the $3,104–$3,095 support levels before any continuation.
🔹 Monday Recap
Price initially faked a breakout above a key intraday resistance, triggering a stop-loss of -80 pips on the first attempt.
A second setup from a rising trendline support aligned with bullish market structure, producing a +150 pip gain.
Later, a short-term pullback allowed for a partial TP of +55.6 pips, ending the day with a net total of +130.5 pips.
📍 Technical Notes:
Price remains inside a rising wedge pattern.
Multiple rejections at the upper horizontal resistance zone suggest consolidation before a breakout.
Intraday structure continues to respect higher lows, maintaining bullish pressure.
🔮 Outlook Ahead (Projection)
While this is not financial advice, broader sentiment and recent headlines suggest continued investor demand for safe-haven assets.
Based on recent reports:
Increased central bank gold accumulation is providing long-term demand stability.
Market is closely watching upcoming U.S. economic data and Fed commentary, which could influence short-term price direction.
If the structure holds, a confirmed breakout above the horizontal resistance zone may target the $3,140–$3,160 range.
However, failure to break resistance cleanly may trigger a short-term pullback toward the $3,104–$3,095 support levels before any continuation.
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.