Hey everyone! What’s your take – is gold gearing up for another rally or about to reverse?
Today, gold saw a strong rebound, surging over $70 to retest the key $3,300 level once again.
The rally was largely driven by a weaker U.S. dollar, which boosted gold’s appeal as a safe haven. On top of that, rising concerns over U.S. tariff policies have added fuel to the short-term bullish momentum in precious metals.
But beneath the surface, technical risks are lurking. On the daily chart (1D), a triple top pattern could be forming, with two peaks already in place. The key resistance lies at $3,430, and if gold fails to close above this level, the third top may solidify — potentially triggering a correction down toward the $3,000 psychological level.
So… what do YOU think?
Is gold about to break out or break down? 🧐
Let me know in the comments!
Today, gold saw a strong rebound, surging over $70 to retest the key $3,300 level once again.
The rally was largely driven by a weaker U.S. dollar, which boosted gold’s appeal as a safe haven. On top of that, rising concerns over U.S. tariff policies have added fuel to the short-term bullish momentum in precious metals.
But beneath the surface, technical risks are lurking. On the daily chart (1D), a triple top pattern could be forming, with two peaks already in place. The key resistance lies at $3,430, and if gold fails to close above this level, the third top may solidify — potentially triggering a correction down toward the $3,000 psychological level.
So… what do YOU think?
Is gold about to break out or break down? 🧐
Let me know in the comments!
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✅You can get 7-10 Forex, XAUUSD, Bitcoin...signal every day
✅ Trading knowledge and answers to questions 24/7
✅Completely free.
👉Join by clicking the following link:
t.me/+O3-l2fUUSpU1NGRl
✅ Trading knowledge and answers to questions 24/7
✅Completely free.
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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.