Gold Technical Analysis - Bullish Momentum or Pullback Ahead?

5 Ogo

Gold (XAU/USD) is trading around $3,371, showing a bullish bias within an ascending channel. Price is consolidating below key resistance at $3,384, and a breakout above this level could lead to a rally toward $3,400–$3,429. On the downside, support lies at $3,340 and $3,312; a break below these could trigger a deeper pullback toward $3,268. The trend remains bullish above $3,340, with buy interest expected on dips, while a confirmed breakdown below $3,268 would shift momentum in favor of bears.

🔑 Key Levels to Watch:
- Resistance: $3,384 → $3,396 → $3,429
- Support: $3,360 → $3,340 → $3,320

📈 Potential Scenarios:
- Bullish: If gold holds above $3,340 and breaks above $3,384, it may rally toward $3,400–$3,429, with potential to reach $3,450+. This keeps the uptrend intact.
- Bearish: If rejected from $3,384, gold could dip to $3,340–$3,312 for a healthy correction before possibly bouncing again. Trend remains bullish unless lower supports break.

📊 Trend Outlook:
- Short-Term Trend: Bullish while inside or above the rising channel
- Medium-Term Trend: Neutral to Bullish; watch for breakout confirmation above $3,384
- Momentum: Consolidating, with potential for a breakout after current sideways structure

Note
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5 Ogo

Dagangan aktif

🔑 Key Levels
- $3,367 area (current price): Watch for breakout/continuation.
- $3,340: Critical to hold for bulls—if broken, $3,326–$3,312 becomes likely.
- $3,384–$3,390: Major breakout area for a potential rally continuation.

7 Ogo

Dagangan ditutup: sasaran tercapai

Target achieved successfully
Sell Profit: $20=200 Pips Booked ($3353 Target)
Buy profit: $37=370 Pips Booked ($3390 Target)
Total Profit: $57= 570 Pips