Gold Market Analysis: Key Levels to Watch
Gold is currently in a highly overbought state. Since April 10th, its price has surged past a strong resistance level, climbing up to 3245.
The price could now make a minor correction before continuing its rise, or a deeper pullback before resuming its upward trend. Let's examine two possible scenarios:
Bullish Scenario:
If gold rises above 3245, it could aim for higher targets at 3284 and 3300.
Bearish Scenario:
If gold drops below 3206, a bearish trend may unfold, with potential declines to 3167 and 3128. Both levels should be closely monitored, as a rebound from these areas could lead to a stronger upward wave. In particular, 3167 seems to be a solid support level with a higher chance of reversing the downward trend.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Gold is currently in a highly overbought state. Since April 10th, its price has surged past a strong resistance level, climbing up to 3245.
The price could now make a minor correction before continuing its rise, or a deeper pullback before resuming its upward trend. Let's examine two possible scenarios:
Bullish Scenario:
If gold rises above 3245, it could aim for higher targets at 3284 and 3300.
Bearish Scenario:
If gold drops below 3206, a bearish trend may unfold, with potential declines to 3167 and 3128. Both levels should be closely monitored, as a rebound from these areas could lead to a stronger upward wave. In particular, 3167 seems to be a solid support level with a higher chance of reversing the downward trend.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Note
Gold Analysis: Consolidation with Bullish Momentum
Yesterday, following my analysis, gold declined from 3227 to 3193, a drop of nearly 1%. However, despite this movement, the bullish momentum remains strong. The price created a false breakout instead of confirming a bearish trend, suggesting that the market is undergoing a broader accumulation phase.
Over the past 12 hours, gold has barely moved from the 3222 zone, showing minimal price action without a clear direction.
If US market activity pushes gold above 3245, another bullish wave could emerge. However, due to low trading volume, any major movement remains uncertain.
A break below 3206 is critical, as it could trigger further declines. Still, strong bullish momentum remains, and buyers are likely to step in near 3170, making it a key level to watch.
At the moment, price contraction is evident from both sides, creating a tight trading range without a definitive breakout.
Trade closed: target reached
Gold Hits a New All-Time High at 3318
Gold has surged past 3245, making a strong move upwards. Over the last nine hours, it gained approximately 2.25%, with most of this increase happening during the night. As seen on the chart, gold jumped sharply from 3245 to 3318.
Interestingly, this rally wasn’t triggered by any fresh news—everything in the market remains unchanged.
If this strong bullish momentum continues, we could see gold reaching 3350, 3375, or even 3400 in the near future.
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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.
✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
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.