Gold has shown a strong bounce from a key support zone around $3,120, which previously acted as resistance. This area is now proving to be a solid demand zone.
✅ On lower timeframes (5m, 15m, 30m), we’re seeing a clear structure shift with Higher Highs (HHs) forming, indicating early signs of bullish momentum.
🧠 On the 1H timeframe, the Change of Character (CHoCH) level is around $3,270 — a clean break above this could confirm a bullish market structure shift.
🎯 If $3,270 is reclaimed with strength, potential upside targets could be:
$3,350 (mid-range supply)
$3,400 (previous weekly high)
This aligns with smart money concepts (CHoCH → BOS → expansion) and we are currently in the Discount zone, making this an attractive area for potential long positions.
📌 Levels to Watch:
Support: $3,120
CHoCH: $3,270
Targets: $3,350 / $3,400
✅ On lower timeframes (5m, 15m, 30m), we’re seeing a clear structure shift with Higher Highs (HHs) forming, indicating early signs of bullish momentum.
🧠 On the 1H timeframe, the Change of Character (CHoCH) level is around $3,270 — a clean break above this could confirm a bullish market structure shift.
🎯 If $3,270 is reclaimed with strength, potential upside targets could be:
$3,350 (mid-range supply)
$3,400 (previous weekly high)
This aligns with smart money concepts (CHoCH → BOS → expansion) and we are currently in the Discount zone, making this an attractive area for potential long positions.
📌 Levels to Watch:
Support: $3,120
CHoCH: $3,270
Targets: $3,350 / $3,400
Note
Note
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.