Currently, I am monitoring two potential scenarios for Gold, without anticipating any immediate or impulsive moves:
Bullish Breakout Scenario:
If the price breaks above the 3323 level and successfully retests it as support, this would signal a continuation of the upward trend. In this case, I would expect further bullish momentum.
Support Retest Scenario:
Alternatively, Gold could retrace to the 3200–3245 zone. Should this area once again act as a strong support, it would present a favorable opportunity to buy the dip in anticipation of a rebound.
Bullish Breakout Scenario:
If the price breaks above the 3323 level and successfully retests it as support, this would signal a continuation of the upward trend. In this case, I would expect further bullish momentum.
Support Retest Scenario:
Alternatively, Gold could retrace to the 3200–3245 zone. Should this area once again act as a strong support, it would present a favorable opportunity to buy the dip in anticipation of a rebound.
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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.