Support Zone:
Around 3,900 – 3,920, where price previously rejected, forming a double-bottom structure. This area aligns with Fibonacci retracement support, indicating strong buyer interest.
Descending Channel Breakout:
Gold has broken above the channel resistance, suggesting a possible trend reversal from bearish to bullish momentum.
Immediate Target:
The first target lies near 4,080 – 4,100, where minor resistance and previous consolidation exist.
Major Target:
If momentum continues and bulls hold above 4,000, gold could extend gains toward the 4,350 – 4,400 resistance zone, which also matches the prior swing high.
Support to Watch:
Any retracement back toward 3,950 – 3,970 could act as a retest zone before a further push higher.
Around 3,900 – 3,920, where price previously rejected, forming a double-bottom structure. This area aligns with Fibonacci retracement support, indicating strong buyer interest.
Descending Channel Breakout:
Gold has broken above the channel resistance, suggesting a possible trend reversal from bearish to bullish momentum.
Immediate Target:
The first target lies near 4,080 – 4,100, where minor resistance and previous consolidation exist.
Major Target:
If momentum continues and bulls hold above 4,000, gold could extend gains toward the 4,350 – 4,400 resistance zone, which also matches the prior swing high.
Support to Watch:
Any retracement back toward 3,950 – 3,970 could act as a retest zone before a further push higher.
Trade active
gold market plays games with accounts it moves very sharply without showing any direction in any side.
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t.me/BULLBEARMASTER0
Get Reliable Forex Trading Signals, Educational materials, and Market Analysis To Enhance Your Trading Experience With BullBearMarter.
Join MyTelegram Channel
t.me/BULLBEARMASTER0
Get Reliable Forex Trading Signals, Educational materials, and Market Analysis To Enhance Your Trading Experience With BullBearMarter.
Join MyTelegram Channel
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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.