Gold is trading within an established ascending channel, with the latest pullback testing both horizontal and trendline support around $3,345.
Technical Analysis
Price has been respecting the ascending channel since late July, with multiple touches on both support and resistance.
The recent decline from $3,405 tested $3,345 support and the lower channel boundary.
Buyers have shown signs of defending this area, aligning with potential bullish continuation.
Bullish Outlook Above $3,345 support:
First target: $3,381 POI
Second target: $3,405 resistance zone
Extended target: $3,434 POI
Key Levels
POINTS: $3,381 / $3,434
Resistance: $3,405
Support: $3,345 / $3,344 (trendline confluence)
Bias: Bullish while above $3,345
Conclusion: As long as Gold holds the $3,345 support and channel structure, the bias remains toward a retest of $3,381–$3,405, with scope for an extension to $3,434.
Technical Analysis
Price has been respecting the ascending channel since late July, with multiple touches on both support and resistance.
The recent decline from $3,405 tested $3,345 support and the lower channel boundary.
Buyers have shown signs of defending this area, aligning with potential bullish continuation.
Bullish Outlook Above $3,345 support:
First target: $3,381 POI
Second target: $3,405 resistance zone
Extended target: $3,434 POI
Key Levels
POINTS: $3,381 / $3,434
Resistance: $3,405
Support: $3,345 / $3,344 (trendline confluence)
Bias: Bullish while above $3,345
Conclusion: As long as Gold holds the $3,345 support and channel structure, the bias remains toward a retest of $3,381–$3,405, with scope for an extension to $3,434.
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相关出版物
免责声明
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.