"Gold Bulls vs. Bears – Critical Levels to Watch This Week"

Aug 13

Technical Analysis Of XAUUSD

1. Current Price Action

Gold (XAU/USD) is trading around $3,358, showing a short-term rebound from the $3,320 support level. Price recently bounced after testing this key level, suggesting active buyer interest in this area.

2. Key Support Zones

* $3,320 - Short-term Support: Immediate level holding price from further decline.
* $3,285 - Demand Zone: Stronger buyer zone where past rallies have started.
A breakdown below $3,320 could see a retest of the $3,285 demand zone for price stability.

3. Key Resistance Zones

* $3,380 -$3,400 Supply Zone: Sellers have historically stepped in here to cap rallies.
* $3,440 - Major Resistance: Breakout above this level could accelerate bullish momentum toward higher highs.

4. Short-Term Outlook

Bias is neutral to slightly bullish. If $3,320 continues to hold, we may see price climb toward the $3,380-$3,400 supply area. A breakout above $3,400 would confirm further bullish potential.

5. Trading Considerations

* Bullish Scenario: Buy on dips above $3,320 with targets at $3,380-$3,400.
* Bearish Scenario: Sell if price breaks below $3,320, targeting $3,285 demand zone.

If this helpful for you, press the like button.

Aug 14

Trade active

from 3342 , support level

Aug 14

Note

180 pips+ achieved

Aug 18

Note

price respected , support level

Aug 18

Trade closed manually