Market Insights & Trade Idea by AryanForex
Gold Technical Analysis
đ Momentum Weakness After Channel BreakoutAfter breaking out of the falling channel, gold failed to surpass the $3356 resistance, showing weakening momentum.
đ Technical Target: $3373â$3385If gold breaks above $3356, it could rise towards the $3373â$3385 range.
đ Possible Pullback to $3342Failure at resistance may trigger a price pullback to $3342.
đ Key Resistance at $3361Breaking $3361 on the daily chart could lead to a strong rally toward $3451.
â Watch for Bearish BreakdownIf price drops to $3306, a bearish wedge pattern would be confirmed, targeting the $3216â$3261 zone.
Gold Pauses as Smart Money Signals High Pullback Risk đĄđ
Goldâs rally has paused, and the Smart Money Indicator suggests a higher risk of pullback.
đ Since Mondayâs U.S. session, spot gold has tested the $3400 resistance twice without success, now entering sideways movement near the highs.
đ§ On the 1-hour chart, the Smart Money Indicator shows resistance from order blocks between $3393.5 and $3402.6, potentially limiting upside in the short term.
â Unless gold reclaims above $3391.5, downside risk remains elevated.đĄ A support zone between $3345â3350 has formed from prior orders â if price retests but doesnât break below, it may act as a bullish entry signal.
đ For reference only â not financial advice.
đ Gold on the Rise?
đž If gold holds above the key level of $3402, bulls may continue to gain momentum!đž Volume is building at higher levels, showing strong buyer interest.đž $3402 is a crucial support â staying above it opens the door to these targets:đŻ $3440â3450, $3470, $3500
đĄ Supports: $3402, $3384, $3370
âš If the market holds here, gold may be set to test new highs again!
đ (This analysis is for informational purposes only and not financial advice.)
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