What is Gold's next move?
đ Bullish Scenario (Upside Breakout)Key Resistance: Around $3,409.23If price breaks above the current consolidation range (near $3,397), we could expect:
First target: $3,438.96Final target: $3,499.85This move assumes continued bullish momentum after the breakout of resistance. đ Bearish Scenario (Rejection & Drop)If price fails to break above resistance and instead drops:
Key support levels to watch:
$3,377.63$3,365.39Major demand zone around $3,345.29If these levels fail, price could extend lower toward:
$3,325.21Possibly down to $3,267.15 âïž Current Market Structure (as of now):Price is consolidating just below a key resistance (~$3,397 - $3,409 zone).A breakout and retest will confirm direction:
Break and hold above $3,409 â Bullish biasBreak below $3,365 â Bearish continuation â Conclusion:At the moment, price is in a critical decision zone. Wait for a confirmed breakout either above resistance (bullish) or below support (bearish) to take positions.
Well I would say it will fly even higher than what has already done and it will be way sooner than expected
Good levels - on my HFM chart the 3,409 zone is the lid; Iâll only go long on a daily close above and clean retest, aiming 3,439 then 3,500.
