Lingrid | GOLD Weekly Support Zone: Short Term Upside Move

is approaching the weekly support area near 3,880, suggesting a short-term bullish impulse might be formed within the downward channel. Price action now moved below the 4,050, which aligns with prior breakdown structure and acts as a potential resistance level. As long as price sustains above 3,880, buyers may push toward 4,050 before meeting stronger resistance. Potential rejection near the lower channel boundary may hint at a corrective recovery phase gaining traction.

⚠️ Risks:

Federal Funds Rate decision on could reignite bearish momentum.
Rising Treasury yields may suppress gold’s short-term recovery potential.
Failure to hold above 3,880 would invalidate the short-term bullish scenario.

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

Trade attivo

is rebounding from the key 3,888 support level after forming a local double bottom structure inside the downward channel. Price action shows a short-term bullish impulse, with the next resistance level seen around 4,080 aligning with the descending trendline. A rejection from that zone could lead to renewed bearish pressure if buyers fail to sustain momentum. Overall sentiment remains corrective, with the rebound viewed as a relief move within a downtrend.

Trade chiuso: obiettivo raggiunto

Our 1st target reached - so great!
+1470 pips

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

Anche su: