Gold Weekly Technical Outlook
Gold (XAU/USD) remains in a clear bullish trend on the weekly chart, currently trading around $3,230. After marking a new high, price action suggests a potential pullback—a healthy retracement that could set the stage for further gains.
Key Levels to Watch:
Current Price: $3,230
Retracement Zone:
First support at $3,100, a recent consolidation level
Deeper support between $2,950 – $2,900, aligned with prior breakout structure and strong demand from earlier in the trend
These levels are key for a potential bounce, as they mark high-probability zones for buyers to re-enter the market.
Upside Targets:
Short-term resistance: $3,280
Primary target (by mid-May): $3,400
This level aligns with the projected extension of the ascending structure and continuation of bullish momentum
Technical Outlook:
As long as gold holds above $2,900, the weekly bullish trend remains intact. A rebound from the retracement zone would likely lead to a renewed rally targeting the $3,400 region.
Gold (XAU/USD) remains in a clear bullish trend on the weekly chart, currently trading around $3,230. After marking a new high, price action suggests a potential pullback—a healthy retracement that could set the stage for further gains.
Key Levels to Watch:
Current Price: $3,230
Retracement Zone:
First support at $3,100, a recent consolidation level
Deeper support between $2,950 – $2,900, aligned with prior breakout structure and strong demand from earlier in the trend
These levels are key for a potential bounce, as they mark high-probability zones for buyers to re-enter the market.
Upside Targets:
Short-term resistance: $3,280
Primary target (by mid-May): $3,400
This level aligns with the projected extension of the ascending structure and continuation of bullish momentum
Technical Outlook:
As long as gold holds above $2,900, the weekly bullish trend remains intact. A rebound from the retracement zone would likely lead to a renewed rally targeting the $3,400 region.
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.
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.