Lingrid | GOLD Short-Term Correction From Psychological Level

is currently retesting the broken triangle structure from below, having rebounded from the ascending support zone. The price is approaching a confluence near 3,400–3410, where prior breakdown and resistance meet. If this level holds as resistance, the setup favors a bearish continuation toward 3,340 and possibly deeper. The broader structure shows lower highs and increasing rejection pressure below the resistance zone.

📉 Key Levels

Sell trigger: 3,400 rejection
Sell zone: 3,398.660–3,410
Target: 3,340
Invalidation: Break and hold above 3,410

💡 Risks

Momentum from recent rebound could challenge resistance
A higher low formation could tilt sentiment bullish
External factors (Fed, inflation data) may inject volatility beyond the range

If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!

Trade active

is forming a potential double top near the 3410 resistance within the upward channel, signaling exhaustion of bullish momentum. Price is projected to drop toward the 3,365 support and the channel border. A confirmed breakdown here could extend target towards 3340, with further downside move to 3330. Bias remains bearish while price holds below 3410.

Lingrid

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Lingrid

🔥 Daily GOLD and Forex updates with 20,000+ active traders:
t.me/LingridChannel
🚀 Daily CRYPTO setups:
bit.ly/3JIGE2j

Also on: