Gold Trending Towards 3,900, Technically

Gold Trending Towards 3,900, Technically

Gold has broken out of a multi-month consolidation range (~3,100–3,500), signaling the start of a new bullish leg.

Current price: 3,653.3 (+1.29%), trading firmly above the breakout zone near 3,500.

Recent candlesticks show strong bullish momentum with higher highs and higher lows, confirming sustained buying pressure.

Indicator (FFI)

The FFI indicator (top pane) has turned strongly positive, with blue histogram bars expanding — supporting a bullish outlook and reinforcing institutional demand strength.

Previous negative readings in mid-year have reversed, showing a shift in market sentiment.

Key Levels

Support: 3,500 (former resistance, now acting as breakout support).

Resistance / Target: Chart highlights a potential target at 3,900, derived from the range breakout projection.

Intermediate Levels: 3,700 could act as a near-term resistance before 3,900 is tested.

Technical Outlook

Bias: Bullish as long as price holds above 3,500.

Breakout from the prolonged consolidation suggests a measured move towards 3,900.

Failure to hold above 3,500 would negate the breakout and risk a pullback towards 3,350–3,400.

Summary:
Gold has completed a decisive breakout from its consolidation base, supported by positive momentum signals. The technical structure favors an upside move toward 3,900, provided the breakout level at 3,500 holds.

Disclaimers apply

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