Technically, gold's recent rally was remarkably rapid, in search of 3,420 and 3,500, leaving few clear entry points for new buyers. Now, with prices slightly correcting, traders may see this as a potential opportunity for a comeback. The 3,350-3,360 area stands out as a critical support zone. If prices remain above this area, the market may consolidate before attempting to move toward its recent highs. However, a break above this area could lead gold to test 3,330, a pivotal technical support level that could serve as a starting point or signal the beginning of a deeper correction.
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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.