julianreeds
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Trend: Bullish (Short-term – consolidation phase)
Gold is trading above an ascending trendline. Strong support at $3,345 & $3,334. Bulls defending higher lows = underlying strength intact.
Upside Outlook:
Break above $3,380
Next target: $3,395
Sustained momentum above $3,395 = bullish continuation
Downside Risk:
Initial support at $3,345, deeper at $3,334
Break below $3,334 = watch the trendline; may lead to a bigger pullback
Strategy:
Look to buy dips near $3,345 / $3,334
Stop-loss below trendline
Add longs if breakout confirmed above $3,380
Key Levels:
Current: $3,365
R2: $3,395, R1: $3,380
S1: $3,345, S2: $3,334
Still in consolidation, but trendline support keeps bulls in control. Watch for breakout moves!
Gold is trading above an ascending trendline. Strong support at $3,345 & $3,334. Bulls defending higher lows = underlying strength intact.
Upside Outlook:
Break above $3,380
Next target: $3,395Sustained momentum above $3,395 = bullish continuation
Downside Risk:
Initial support at $3,345, deeper at $3,334
Break below $3,334 = watch the trendline; may lead to a bigger pullback
Strategy:
Look to buy dips near $3,345 / $3,334
Stop-loss below trendline
Add longs if breakout confirmed above $3,380
Key Levels:
Current: $3,365
R2: $3,395, R1: $3,380
S1: $3,345, S2: $3,334
Still in consolidation, but trendline support keeps bulls in control. Watch for breakout moves!
