Holding above 3,675 favors bullish continuation1. Key Levels
Resistance zone: 3,675 – 3,685 (blue box). Price is consolidating right around this area.
Support zone: 3,630 – 3,640 (red box below). This is the key downside level if the breakout fails.
2. Current Price Action
Price had a strong bullish impulse pushing above 3,675 but is now stalling and retesting this resistance zone.
The zig-zag lines you drew highlight two potential paths:
🔺 Red arrow (bullish): Break above 3,685 → continuation to 3,700 – 3,710.
🔻 Blue arrow (bearish): Rejection from this zone → drop back towards 3,640 support.
3. Trading Scenarios
Bullish Case
If gold holds above 3,675 and breaks 3,685 with momentum, buyers could target 3,700 – 3,710 first.
Above that, 3,720+ becomes the next resistance zone.
Bearish Case
If gold fails to stay above 3,675 and breaks back below → expect a deeper retracement towards 3,640.
If 3,640 fails, the next strong support is 3,620 – 3,630.
4. Summary
The market is at a decision point.
Holding above 3,675 favors bullish continuation, while losing this level favors a pullback correction.
Traders should watch for a clean breakout or rejection at this zone before entering.
