Sofie Wilson
New Member
- Credits
- 19
Analysis
Gold is currently consolidating around $3,386, forming a potential bullish flag pattern. Despite recent choppy price action, the overall structure remains bullish, supported by persistent geopolitical uncertainty and inflationary concerns. Price action shows rejection at the $3,400 level, with a tight range forming between $3,362 and $3,400.
Technical Outlook
• On the Upside :
A breakout above $3,400 could lead to a test of $3,422, and further strength may target the next resistance near $3,435–$3,450.
• On the Downside :
If gold slips below $3,362, expect a potential dip toward $3,337. A sustained break below that could signal weakness, targeting the $3,300–$3,280 zone.
Trend
The short-term trend remains bullish, but price is coiling within a flag structure. A breakout to either side will likely determine the next strong move.
Strategy
Look for buy-on-dips setups near $3,362 or $3,337, with stops below $3,320. A breakout above $3,400 offers a momentum trade opportunity toward $3,435 and beyond.
Key Levels
• Resistance: $3,400 / $3,422 / $3,435
• Support: $3,362 / $3,337 / $3,320
Gold is currently consolidating around $3,386, forming a potential bullish flag pattern. Despite recent choppy price action, the overall structure remains bullish, supported by persistent geopolitical uncertainty and inflationary concerns. Price action shows rejection at the $3,400 level, with a tight range forming between $3,362 and $3,400.
Technical Outlook
• On the Upside :
A breakout above $3,400 could lead to a test of $3,422, and further strength may target the next resistance near $3,435–$3,450.
• On the Downside :
If gold slips below $3,362, expect a potential dip toward $3,337. A sustained break below that could signal weakness, targeting the $3,300–$3,280 zone.
Trend
The short-term trend remains bullish, but price is coiling within a flag structure. A breakout to either side will likely determine the next strong move.
Strategy
Look for buy-on-dips setups near $3,362 or $3,337, with stops below $3,320. A breakout above $3,400 offers a momentum trade opportunity toward $3,435 and beyond.
Key Levels
• Resistance: $3,400 / $3,422 / $3,435
• Support: $3,362 / $3,337 / $3,320
