Based on the chart analysis, the gold price forecast suggests a potential bounce from the support level around $2,975–$2,980, followed by a bullish movement toward the resistance area near $3,020.
Here’s the likely scenario:
If gold holds above the support zone, it may see an upward move with a breakout attempt toward the resistance.
A successful breakout above $3,020 could lead to further gains.
If the support level fails, a bearish move toward lower levels is possible.
Overall, the outlook appears bullish as long as support holds. However, economic data and geopolitical events could influence the trend.
Here’s the likely scenario:
If gold holds above the support zone, it may see an upward move with a breakout attempt toward the resistance.
A successful breakout above $3,020 could lead to further gains.
If the support level fails, a bearish move toward lower levels is possible.
Overall, the outlook appears bullish as long as support holds. However, economic data and geopolitical events could influence the trend.
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.