Gold is still holding above an important support zone that has already produced several strong rebounds. Although price previously moved lower, sellers have not been able to break this area decisively, while buyers continue to step in whenever Gold returns to the zone.
As long as this support remains intact, I expect the recovery to continue. The first level to watch is 4,100. If price breaks above it and holds, the next targets could be 4,200 and 4,250.
For now, the structure remains favorable for buyers. The bullish outlook would only weaken if Gold clearly breaks and closes below the highlighted support zone.
As long as this support remains intact, I expect the recovery to continue. The first level to watch is 4,100. If price breaks above it and holds, the next targets could be 4,200 and 4,250.
For now, the structure remains favorable for buyers. The bullish outlook would only weaken if Gold clearly breaks and closes below the highlighted support zone.
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Related publications
Disclaimer
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.