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Abstract:Gold (XAUUSD) is currently traded around 3357.64, attempting to regain bullish momentum after a recent corrective dip. Price has pushed back above key moving averages, supported by recent buying volum
Gold (XAUUSD) is currently traded around 3357.64, attempting to regain bullish momentum after a recent corrective dip. Price has pushed back above key moving averages, supported by recent buying volume, though it now faces a retest of a key resistance zone.
Price action shows a recovery from the 3176.50 support, with a series of bullish candles leading price back to the 3357.64 zone. This move has brought price above the midline of the Bollinger Bands, indicating renewed strength. The upper Bollinger Band remains expansive, providing room for further upside should bullish momentum persist.
MACD (12,26,9) remains in positive territory with the histogram flattening slightly at 22.893 / 20.792, suggesting a possible early stage of bullish reacceleration. Recent bullish candles are supported by healthy volume, confirming the potential for a continuation toward the next resistance at 3483.27.
Market Observation & Strategy Advice:
1. Current Price: 3357.64 – Back above mid-Bollinger and key moving average zone, showing bullish potential.
2. Key Resistance Levels: 3483.27 – Strong resistance from prior peak; breakout above this level may trigger fresh highs.
3. Key Support Levels: 3176.50 – Major support from recent swing low; a break below would reverse current bullish structure.
4. Momentum & Indicators: Bollinger Bands Price is heading toward the upper band after bouncing from the lower; volatility expanding. MACD Bullish with positive histogram, though slope is flattening – suggests consolidation before potential push. Volume Rising along with price, supporting short-term bullish outlook.
5. Trading Strategy Suggestions:
Buy Breakout Above 3365–3370 Zone – Targeting resistance at 3483.27.
Buy on Pullback Toward 3300–3280 – If bullish structure holds, this zone may offer re-entry.
Stop Loss Recommendation: Below 3176.50 to protect against trend reversal.
Market Performance:
Precious Metals Last Price % Change
XPTUSD 1,083.742 +0.48%
XAGUSD 33.40850 −0.22%
Todays Key Economic Calendar:
CA: Manufacturing Sales MoM Prel
EU: ECB President Lagarde Speech
Risk Disclaimer: This report is for informational purposes only and does not constitute financial advice. Investments involve risks, and past performance does not guarantee future results. Consult your financial advisor for personalized investment strategies.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.