julianreeds
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Gold (XAUUSD) is holding firm above the $3,362 support zone after a powerful surge earlier this week. This level has become a battleground between buyers and sellers, but for now, the bulls are in control.
If gold breaks above the $3,431 resistance, we could see renewed momentum pushing toward $3,458. However, a dip below $3,362 might drag prices down to $3,324, a key demand area.
The short-term trend stays bullish as long as price holds above $3,362, supported by higher lows and buyers stepping in on dips. Traders could look to buy near $3,362 or $3,324, with tight stops. Momentum entries could trigger above $3,431.
Bearish trades? Only if we get a confirmed break below $3,324.
Key Levels to Watch:
If gold breaks above the $3,431 resistance, we could see renewed momentum pushing toward $3,458. However, a dip below $3,362 might drag prices down to $3,324, a key demand area.
The short-term trend stays bullish as long as price holds above $3,362, supported by higher lows and buyers stepping in on dips. Traders could look to buy near $3,362 or $3,324, with tight stops. Momentum entries could trigger above $3,431.
Bearish trades? Only if we get a confirmed break below $3,324.
Key Levels to Watch:
- Resistance: $3,431 and $3,458
- Support: $3,362 and $3,324
