Gold has been moving within a well-defined downward channel, making lower highs and lower lows. However, price action has now approached a key support zone near 3,145 USD, where buyers appear to be stepping in.
Technical Highlights:
The falling channel has held for multiple touches on both trendlines.
Price has now broken slightly above the descending resistance line, signaling a potential trend reversal or bullish correction.
Two resistance levels to watch:
First target / resistance: 3,257 USD
Second target / major resistance: 3,348 USD
Support: Key support remains at 3,145 USD, which has acted as a strong demand zone recently.
Trade Idea:
Entry Area: Around current levels (3,190–3,200 USD) on confirmation of breakout retest
First Target: 3,257 USD
Final Target: 3,348 USD
Stop-loss: Below 3,145 USD to manage risk
Outlook:
If price sustains above the descending channel and breaks through 3,257 USD, we could see a move toward the upper resistance. If the breakout fails and price re-enters the channel, we might revisit 3,145 USD support.
Technical Highlights:
The falling channel has held for multiple touches on both trendlines.
Price has now broken slightly above the descending resistance line, signaling a potential trend reversal or bullish correction.
Two resistance levels to watch:
First target / resistance: 3,257 USD
Second target / major resistance: 3,348 USD
Support: Key support remains at 3,145 USD, which has acted as a strong demand zone recently.
Trade Idea:
Entry Area: Around current levels (3,190–3,200 USD) on confirmation of breakout retest
First Target: 3,257 USD
Final Target: 3,348 USD
Stop-loss: Below 3,145 USD to manage risk
Outlook:
If price sustains above the descending channel and breaks through 3,257 USD, we could see a move toward the upper resistance. If the breakout fails and price re-enters the channel, we might revisit 3,145 USD support.
Trade active
100 pips hitNote
600 pips successful enjoy guys.Note
900 pips successful Next target hold. guys.Note
1200 pips. Activate hold. guys. confiram target Trade closed: target reached
Fantastic! all target hit 1550 pips. enjoy guys. 
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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.