Following renewed Middle East ceasefire hopes and signs of exhausted buying momentum on the gold chart, the yellow metal has pulled back toward a key trendline—connecting higher lows since December 2024—currently near the 3,300 level.
If gold holds above 3,300 and continues to respect this broader trend support, the bullish trajectory may re-align, with potential upside targets at 3,400, 3,450, and 3,500.
However, a decisive close below 3,300 could signal a deeper corrective move. In that case, further downside may unfold toward 3,150, 3,050, 2,950, and 2,800, in line with the 1.272 and 1.618 Fibonacci extension levels derived from the April 2025 high, May 2025 low, and June 2025 high.
- Razan Hilal, CMT
If gold holds above 3,300 and continues to respect this broader trend support, the bullish trajectory may re-align, with potential upside targets at 3,400, 3,450, and 3,500.
However, a decisive close below 3,300 could signal a deeper corrective move. In that case, further downside may unfold toward 3,150, 3,050, 2,950, and 2,800, in line with the 1.272 and 1.618 Fibonacci extension levels derived from the April 2025 high, May 2025 low, and June 2025 high.
- Razan Hilal, CMT
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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.