Key Observations:
Current Price: Gold is trading at $3,127.450 at the time of the chart.
Trend: The chart exhibits a strong uptrend, with higher highs and higher lows.
Support Levels: Several support levels are marked in the $3,010 - $2,999 range, extending down to around $2,906.
Resistance and Target:
The immediate price range is highlighted, suggesting possible consolidation.
A breakout above this range could lead to a target around $3,181.
Chart Annotations:
A retracement (red structure) indicates a short-term correction before continuation.
A breakout structure (black lines) suggests a previous significant upward movement.
The range and possible continuation are marked, indicating that the price may consolidate before attempting to reach the target.
Trading Perspective:
If price holds above the range, we may see bullish continuation towards $3,181.
A break below support levels could signal a deeper pullback towards $3,010 or lower.
This chart suggests a bullish outlook, with potential for more upside if momentum continues. Traders might look for confirmations before entering long positions.
Current Price: Gold is trading at $3,127.450 at the time of the chart.
Trend: The chart exhibits a strong uptrend, with higher highs and higher lows.
Support Levels: Several support levels are marked in the $3,010 - $2,999 range, extending down to around $2,906.
Resistance and Target:
The immediate price range is highlighted, suggesting possible consolidation.
A breakout above this range could lead to a target around $3,181.
Chart Annotations:
A retracement (red structure) indicates a short-term correction before continuation.
A breakout structure (black lines) suggests a previous significant upward movement.
The range and possible continuation are marked, indicating that the price may consolidate before attempting to reach the target.
Trading Perspective:
If price holds above the range, we may see bullish continuation towards $3,181.
A break below support levels could signal a deeper pullback towards $3,010 or lower.
This chart suggests a bullish outlook, with potential for more upside if momentum continues. Traders might look for confirmations before entering long positions.
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.