Gold Hits Key Resistance – Will It Break Out or Pull Back? Gold has been moving in a downtrend, and there's a clear descending trendline marked in red. The price has just reached that trendline right around the 3316 level, which also aligns with a horizontal resistance at 3329 — making this a very strong resistance zone.
The price surged from the support area near 3224, breaking through minor resistances until it reached the current level. But what we need to keep an eye on is that momentum indicators like MACD and Stochastic below the chart are starting to show overbought signals, which could mean the price might pull back or at least slow down.
🎯 Expected scenario now:
If the price fails to break above 3329 and can't push through the trendline, we might see a corrective drop toward 3269, and possibly down to 3224 again.
However, if the price breaks above this zone with strong volume and holds above it, we could see a continued bullish move toward 3352 — which looks like an ideal selling zone.
