Gold Bulls in Control: $3,412 Breakout Could Trigger Major Rally

5 Haz

Gold is currently maintaining a strong bullish structure on the 4H timeframe. Price is forming higher highs and higher lows, following a well-defined ascending trendline starting from the $3,125 region. Buyers are actively defending the structure, showing sustained strength. Short-term consolidation or minor pullback before a breakout. If the price sustains above $3,412, we can expect a continuation to $3,490, followed by $3,553.

✅ Bullish Scenario:
Break and hold above $3,412 confirms bullish momentum.
Target 1: $3,490
Target 2: $3,553

❌ Bearish Scenario:
Rejection from $3,412 or $3,490 and break below $3,288 trendline support could trigger downside.

Gold is currently in a strong bullish trend with potential to reach the $3,490 and $3,553 levels in the coming sessions. However, keep an eye on the trendline support and key resistance levels. A clean break and close above $3,412 could be a signal to ride the bullish momentum.

Note
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6 Haz

İşlem aktif

Gold is down after testing 3400 area and again retest it's main support of 3330-3340 and moved up. Today there are big news related to NFP.