Current Trend: Gold is moving within a range-bound structure between the support area (around $3,016 - $3,014) and the resistance area (around $3,032 - $3,036).
Key Patterns: A W-shaped pattern has been observed, indicating multiple rejections from support and resistance levels.
A breakout above resistance might push the price toward higher levels around $3,040+.
A break below support could send gold towards the $3,000 level.
Conclusion: Gold is currently ranging, and a breakout in either direction will decide the next major move. Traders should watch key support and resistance levels before entering trades.
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Key Patterns: A W-shaped pattern has been observed, indicating multiple rejections from support and resistance levels.
A breakout above resistance might push the price toward higher levels around $3,040+.
A break below support could send gold towards the $3,000 level.
Conclusion: Gold is currently ranging, and a breakout in either direction will decide the next major move. Traders should watch key support and resistance levels before entering trades.
If you found this analysis helpful, don't forget to like and follow for more updates! Got any questions? Drop them in the comments below.
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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.
Are you ready to take your trading skills to the next level? our channel provide free signals for trade, experts insights and daily updates to help you stay ahead of the market.
t.me/+dSaypw2DprY3ZTdk
t.me/+dSaypw2DprY3ZTdk
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.