Gold shows a recent price decline after testing short-term resistance near the 3,398–3,400 range, with sellers pushing the market back toward the 3,390 zone. A long trade setup is illustrated, with an entry around current market price, a stop-loss placed near 3,382.50 to protect against downside risk, and a take-profit target near 3,405, offering a favorable risk-to-reward ratio. The price is currently retesting the entry zone after a pullback, suggesting the trade idea is based on anticipating a rebound from minor support and continuation toward the upper resistance level.
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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.