Critical Levels for Gold: 3409 in Focus – What’s Next?”

Aug 26

Gold’s Struggle Between Support and Resistance – A Market Story

Gold (XAU/CFDs) continues to craft an intriguing tale of price discovery, swinging between bullish ambition and market caution. The journey began near 3267, where a decisive bullish impulse shattered resistance at 3308, converting it into a firm support base.

Momentum carried prices to 3408, a key resistance that halted the rally and ushered in a period of consolidation—a psychological tug-of-war between buyers and sellers. This wasn’t weakness but preparation, as liquidity accumulated within a tight range.

Subsequent pullbacks retested 3312, forming what appears to be a double-bottom structure, reaffirming demand. Traders attentive to market sentiment recognized this as a recalibration, not capitulation.

Currently, price fluctuates between 3363 and 3384, with eyes firmly fixed on 3409—a level that symbolizes not only resistance but market conviction. A breakout above this ceiling could pave the way for 3450 and beyond, marking a new phase of bullish dominance.

Yet, the shadow of a bull trap looms. Should momentum falter near resistance, a sharp reversal toward 3363, or deeper into 3312, remains plausible. Below this, the lower support at 3267 may again come into play.

This chart reflects more than technical zones; it mirrors the market’s psyche—optimism wrestling with caution, conviction against hesitation. For the disciplined trader, patience and structure are paramount: watch for breakout confirmation, validate with volume, and manage risk meticulously.

Gold’s next move? Unwritten. But the narrative, rich with tension and possibility, underscores why the markets remain a theater of endless fascination.

Aug 27

Trade active

Posted bullish setup of gold is working gorgeously as profitably hit the surface of 3396 , almost 180 pips profit .
But it5 is retesting the left FVG of the trend.

Aug 28

Trade closed: target reached

Target Achieved – Gold Hits 3404

We are pleased to confirm that our projected target for Gold (CFDs – XAU/USD) has been successfully reached. After a well-structured consolidation phase and breakout above key resistance levels, price action followed the anticipated bullish trajectory, topping out at 3404, just shy of the marked resistance zone at 3409.

This move reflects the strength of the technical setup and the market's alignment with our analysis. The breakout from the 3363–3384 range and follow-through toward the upper resistance validated the bullish scenario laid out in our previous commentary.



We will continue to monitor price behavior closely for either a confirmed breakout above 3409 or a potential pullback toward lower support zones. Stay tuned for further updates and the next actionable setup.

7 days ago

Note

Finally target 3408 achieved.

3 days ago

Note

Target reached and in bullish trend it touched to 3490.

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