GOLD WEEKLY CHART MID/LONG TERM ROUTE MAPWeekly Chart Update
3659 Target Achieved, Rejection at 3659 & now Range Play Between Key Levels
As projected, price delivered into the 3659 target after securing a weekly body close above 3576, just as anticipated. This completed the next upside step in sequence.
However, despite momentum into 3659, we did not see a candle body close and EMA5 lock above this level. The lack of confirmation left a rejection in place, establishing 3659 as firm resistance while 3576 now acts as immediate support. Price action is currently playing within this range, and a decisive break above or below will determine the next directional move.
Current Outlook
🔹 3659 Target Achieved
The weekly structure unfolded exactly as expected, with the 3576 breakout leading to a clean push into 3659.
🔹 Rejection at 3659
No body close above 3659 leaves this level as strong resistance for now. Without lock confirmation, bullish continuation into 3732 remains unconfirmed.
🔹 Range Play Between 3659 & 3576
We now look for a confirmed break above 3659 to unlock 3732, or a breakdown below 3576 that would risk pulling price back into the prior channel range.
Updated Levels to Watch
📉 Support – 3576 & 3482
Key floors for maintaining bullish structure. A break back below 3576 puts 3482 in play as the next test.
📈 Resistance – 3659 / Next Objective 3732
3659 remains the ceiling. A sustained close above here opens 3732 as the next target zone.
Plan
Price is consolidating between 3659 resistance and 3576 support. The next move depends on which boundary breaks:
Above 3659: Unlocks 3732 with bullish continuation.
Below 3576: Signals rejection and risks a deeper correction into 3482.
Thanks as always for your support,
Mr Gold
GoldViewFX
