✅ Based on the current market structure, gold is likely to maintain a high-level consolidation pattern next week, with a low probability of breaking below the key 3375 support. Although Friday recorded a candlestick with a spike higher followed by a pullback, the 3375 level has been tested multiple times without a decisive break, and the close remained firmly above it, reflecting the resilience of the bulls and the effectiveness of the support.
✅ Since rebounding from the 3268 low, gold has been forming a pattern of higher highs and higher lows, with the overall uptrend remaining intact. The current 1-hour chart shows that gold is still moving within a standard ascending channel, and the short-term trend remains bullish.
✅ Key Technical Levels:
🟢 Downside Support: Raised to the 3380 area. If the price pulls back to this level next week and holds, buying on dips remains the preferred strategy.
🔴 Upside Resistance: Around 3420, which corresponds to the upper boundary of the channel. If the price faces resistance here, short-term selling could be considered, targeting a move back within the channel.
🟠 Breakout Conditions: A breakout above the channel’s upper boundary would signal that bulls may start a new wave of upside momentum. Conversely, if 3380 is decisively broken and the price sustains below it, gold is likely to enter a corrective phase, with an increased risk of retesting the 3375 support.
✅ Trading Strategy Reference:
🔻 Short Position Strategy:
🔰Consider entering short positions in batches if gold rebounds to the 3415-3420 area. Target: 3400-3390；If support breaks, the move may extend to 3380.
🔺 Long Position Strategy:
🔰Consider entering long positions in batches if gold pulls back to the 3375-3380 area. Target: 3400-3410；If resistance breaks, the move may extend to 3420.
🔥Trading Reminder: Trading strategies are time-sensitive, and market conditions can change rapidly. Please adjust your trading plan based on real-time market conditions. If you have any questions or need one-on-one guidance, feel free to contact me🤝
