Gold is currently trading near 3,397 after a sustained bullish leg, holding just above an ascending trendline that has acted as a structural support base. Price action indicates the potential for a deliberate liquidity sweep below the trendline, targeting stops positioned under recent higher lows. This corrective leg is expected to extend toward the 3,300–3,325 daily demand zone, an area of prior accumulation that remains unmitigated and aligns with the 61.8–65% Fibonacci retracement of the latest impulse leg.
This demand zone is further reinforced by an H4–Daily imbalance (FVG) and high-volume node on the volume profile, suggesting significant institutional interest. A strong bullish reaction from this level could confirm the continuation of the macro uptrend. Upside objectives remain the prior swing high at 3,451, followed by the 3,500 psychological level — both of which hold notable resting liquidity.
Gold is showing signs of a trendline breakdown to capture liquidity beneath recent lows. A drop into the $3,300–$3,325 daily demand zone — backed by Fibonacci, imbalance fill, and volume profile confluence — could set up the next impulsive rally. Upside targets remain $3,451 and $3,500 once demand is validated.
This demand zone is further reinforced by an H4–Daily imbalance (FVG) and high-volume node on the volume profile, suggesting significant institutional interest. A strong bullish reaction from this level could confirm the continuation of the macro uptrend. Upside objectives remain the prior swing high at 3,451, followed by the 3,500 psychological level — both of which hold notable resting liquidity.
Gold is showing signs of a trendline breakdown to capture liquidity beneath recent lows. A drop into the $3,300–$3,325 daily demand zone — backed by Fibonacci, imbalance fill, and volume profile confluence — could set up the next impulsive rally. Upside targets remain $3,451 and $3,500 once demand is validated.
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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.