Gold is currently trading near a strong resistance zone at 3860–3864. A clear break above this level may allow for limited upside momentum, though it does not yet indicate a trend reversal. However, a decisive break above 3880 could open the door for further bullish continuation and potentially a new all-time high above 3897.
On the downside, initial support lies at 3841–3838. A break below this area may trigger gradual downside pressure, with momentum accelerating if gold falls under 3828–3818.
Historically, Fridays tend to be highly unpredictable as market makers often create traps for traders. Extra caution is advised.
📈 Bullish Scenario (Buy)
Entry: Above 3863
Targets: 3867 – 3873 – 3880 – 3887 – 3893 – 3901 – (3913–3917) – (3938–3944)
📉 Bearish Scenario (Sell)
Entry: Below 3838
Targets: 3832 – (3824–3820) – 3814 – 3803 – 3795 – (3786–3780) – 3764 – 3758 – 3740
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Disclaimer:
This analysis reflects my personal view and market observation. It is not financial advice or a buy/sell recommendation. Trading in financial markets carries significant risk, and all decisions are the sole responsibility of the trader.
On the downside, initial support lies at 3841–3838. A break below this area may trigger gradual downside pressure, with momentum accelerating if gold falls under 3828–3818.
Historically, Fridays tend to be highly unpredictable as market makers often create traps for traders. Extra caution is advised.
📈 Bullish Scenario (Buy)
Entry: Above 3863
Targets: 3867 – 3873 – 3880 – 3887 – 3893 – 3901 – (3913–3917) – (3938–3944)
📉 Bearish Scenario (Sell)
Entry: Below 3838
Targets: 3832 – (3824–3820) – 3814 – 3803 – 3795 – (3786–3780) – 3764 – 3758 – 3740
If you find this analysis useful, I sincerely appreciate your support by sharing it.
Disclaimer:
This analysis reflects my personal view and market observation. It is not financial advice or a buy/sell recommendation. Trading in financial markets carries significant risk, and all decisions are the sole responsibility of the trader.
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.
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.