Gold holds steady near resistance – Is a breakout coming?Hello everyone, let’s explore today’s gold market together!
Overall, during the Asian session on Monday, gold traded cautiously, consolidating just below the nearest resistance level at $3,360, with minimal price movement. The uptrend remains strong, primarily driven by a sharp momentum shift last Friday following key news, as the weakening USD reignited investor interest in gold.
Current market sentiment suggests that major institutional funds and retail traders alike are showing renewed attention. As long as the previous support level around $3,330 holds firm, the next move could be a break above the $3,360 resistance, which would likely open the door for further upside expansion.
However, if price breaks below that support zone, I would consider the bullish setup invalid and shift to a wait-and-see approach until clearer signals emerge.
Feel free to share your thoughts in the comments — your perspective could contribute tremendous value to the global TradingView community!
