Current Price: ~$3,588
Gold recently broke out to new highs but is now pulling back after a sharp rally.
✅ Bullish Case
* Trend is still strong overall (higher highs & higher lows).
* If price holds above $3,550–$3,570, bulls may push for a retest of $3,620–$3,650.
❌ Bearish Case
*If gold breaks below $3,550, a deeper pullback toward $3,480–$3,450 is possible.
🎯 Takeaway
* Short-term pullback after a strong run.
* Key support = $3,550 zone.
* Watch for a bounce to confirm continuation, or a break lower for correction.
📝 Quick Chart Guide for Newbies
* Candlesticks: Green = price went up, Black = price went down.
* Trend: Gold has been trending up since late 2024 (higher peaks & dips).
* Resistance: Around $3,620–$3,650 (where sellers step in).
* Key Support: Around $3,550 (where buyers step in).
👉 In simple terms: Gold is still bullish, but needs to stay above $3,550 to keep momentum.
👉 What’s your bias? Long continuation or short-term pullback?
Don't forget to drop your comments/ideas, boost the post, and follow me for more updates!
-Neo
Gold recently broke out to new highs but is now pulling back after a sharp rally.
✅ Bullish Case
* Trend is still strong overall (higher highs & higher lows).
* If price holds above $3,550–$3,570, bulls may push for a retest of $3,620–$3,650.
❌ Bearish Case
*If gold breaks below $3,550, a deeper pullback toward $3,480–$3,450 is possible.
🎯 Takeaway
* Short-term pullback after a strong run.
* Key support = $3,550 zone.
* Watch for a bounce to confirm continuation, or a break lower for correction.
📝 Quick Chart Guide for Newbies
* Candlesticks: Green = price went up, Black = price went down.
* Trend: Gold has been trending up since late 2024 (higher peaks & dips).
* Resistance: Around $3,620–$3,650 (where sellers step in).
* Key Support: Around $3,550 (where buyers step in).
👉 In simple terms: Gold is still bullish, but needs to stay above $3,550 to keep momentum.
👉 What’s your bias? Long continuation or short-term pullback?
Don't forget to drop your comments/ideas, boost the post, and follow me for more updates!
-Neo
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.
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.