#XAUUSD
On Friday night, gold prices fluctuated rapidly before closing due to news, and finally closed near 3397. Currently, gold is fluctuating and consolidating in the 3400-3380 range. This pattern not only reflects the fierce game between bulls and bears, but also suggests that the market may be brewing a new breakthrough direction. Therefore, we need to be particularly vigilant about potential breakouts next week.
Judging from the market alone, gold is still in an upward trend channel, so at the beginning of the week we can focus on the effectiveness of the support between 3390-3380. If the support level of 3390-3380 below remains solid and the hourly line breaks through and stabilizes above 3400, then the gold price may test the key resistance level of 3410 again. Once it breaks through, it is expected to reach 3420-3430.
On Friday night, gold prices fluctuated rapidly before closing due to news, and finally closed near 3397. Currently, gold is fluctuating and consolidating in the 3400-3380 range. This pattern not only reflects the fierce game between bulls and bears, but also suggests that the market may be brewing a new breakthrough direction. Therefore, we need to be particularly vigilant about potential breakouts next week.
Judging from the market alone, gold is still in an upward trend channel, so at the beginning of the week we can focus on the effectiveness of the support between 3390-3380. If the support level of 3390-3380 below remains solid and the hourly line breaks through and stabilizes above 3400, then the gold price may test the key resistance level of 3410 again. Once it breaks through, it is expected to reach 3420-3430.
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Related publications
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.