Gold staged a strong breakout rally today, trading in a narrow range during Asian session before surging higher in European hours. The price initially consolidated between 4354-4370, then broke out with significant volume after European open, exceeding our earlier bullish expectations.
Key Technical Levels :
Support Levels:
4370 (converted breakout point);4350-4360 (former resistance turned support);4320-4330 (backup support zone)
Resistance Levels:
4420 (intraday high);4450 (psychological round number);4480 (extension target)
If price stabilizes above 4420 tonight, we anticipate extension toward 4450-4480, maintaining the strong bullish momentum.
If price falls below 4370, be cautious of profit-taking leading to potential short-term correction.
Trading Strategy:
Buy 4390-4400
SL 4370
TP 4420 - 4430 - 4450
Sell 4420-4430
SL 4440
TP 4400 - 4390 - 4380
Key Technical Levels :
Support Levels:
4370 (converted breakout point);4350-4360 (former resistance turned support);4320-4330 (backup support zone)
Resistance Levels:
4420 (intraday high);4450 (psychological round number);4480 (extension target)
If price stabilizes above 4420 tonight, we anticipate extension toward 4450-4480, maintaining the strong bullish momentum.
If price falls below 4370, be cautious of profit-taking leading to potential short-term correction.
Trading Strategy:
Buy 4390-4400
SL 4370
TP 4420 - 4430 - 4450
Sell 4420-4430
SL 4440
TP 4400 - 4390 - 4380
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.