Gold Price at Key Decision Point – Breakout or Breakdown?

Trend Analysis
Uptrend Channel (Green lines): Price was previously moving upward within a rising channel.
Breakdown: Price broke below the channel, indicating a trend reversal or weakening bullish momentum.
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Current Situation
Price: Currently around $3,294.98, down by 0.61%.
Trendline Resistance: A downward sloping trendline (green line) is acting as resistance.
The price is struggling to break this line, which is marked with a yellow circle.
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Key Scenarios
1. Bullish Breakout:
If price breaks above the resistance trendline,
The next potential target is around $3,350, as labeled on the chart.
2. Bearish Continuation:
If price fails to break the trendline and drops,
It may head towards the support zone (highlighted in red), likely between $3,270 - $3,260.
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Conclusion
Watch for breakout or rejection at the trendline.
Breakout = bullish move to $3,350.
Rejection = bearish drop to support zone.
Uptrend Channel (Green lines): Price was previously moving upward within a rising channel.
Breakdown: Price broke below the channel, indicating a trend reversal or weakening bullish momentum.
---
Current Situation
Price: Currently around $3,294.98, down by 0.61%.
Trendline Resistance: A downward sloping trendline (green line) is acting as resistance.
The price is struggling to break this line, which is marked with a yellow circle.
---
Key Scenarios
1. Bullish Breakout:
If price breaks above the resistance trendline,
The next potential target is around $3,350, as labeled on the chart.
2. Bearish Continuation:
If price fails to break the trendline and drops,
It may head towards the support zone (highlighted in red), likely between $3,270 - $3,260.
---
Conclusion
Watch for breakout or rejection at the trendline.
Breakout = bullish move to $3,350.
Rejection = bearish drop to support zone.
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🟢All Pairs Signals Provided
🟡XAUUSD AND CRYPTO
✅Just Register now and Enjoy
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one.exnesstrack.org/a/siuhoykv4s
🟢All Pairs Signals Provided
🟡XAUUSD AND CRYPTO
✅Just Register now and Enjoy
✅No swap & No commission
one.exnesstrack.org/a/siuhoykv4s
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.