The Gold/USD price on the 30-minute chart is approaching the resistance levels around 2383 and 2390 USD after a strong upward move from the support level around 2350 USD. This indicates a critical decision point where the price could either break through the resistance or reverse back towards support.
Strategy:
Bullish Scenario: If Gold/USD breaks above the 2383 USD resistance level with strong momentum and volume, it could indicate a buying opportunity. Targets could be set towards the next resistance levels around 2390 USD and 2400 USD.
Bearish Scenario: If Gold/USD fails to break above 2383 USD and shows signs of reversal, it could suggest a selling opportunity. In this case, targets could be set towards the support levels around 2370 USD and 2350 USD.
Strategy:
Bullish Scenario: If Gold/USD breaks above the 2383 USD resistance level with strong momentum and volume, it could indicate a buying opportunity. Targets could be set towards the next resistance levels around 2390 USD and 2400 USD.
Bearish Scenario: If Gold/USD fails to break above 2383 USD and shows signs of reversal, it could suggest a selling opportunity. In this case, targets could be set towards the support levels around 2370 USD and 2350 USD.
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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.
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.