On the H1 timeframe, gold has tested the key support area around 3320 – 3326 and is showing signs of a potential bullish reversal. The recent rejection candle and volume activity suggest that buyers are stepping in to defend this zone.
Key Technical Levels
Support zone: 3320 – 3326
Immediate resistance: 3336 – 3342
Major resistance: 3352 – 3355
EMA signals: Price is currently consolidating near short-term EMAs. A decisive close above EMA20/50 would confirm bullish momentum.
Fibonacci & Trendline: Price reaction near the 0.618 Fib retracement of the latest bullish swing aligns with support, strengthening the bullish bias.
Trading Strategy
Bullish Plan
Consider long entries from 3320 – 3326.
Target 1: 3336 – 3342 (intraday resistance).
Target 2: 3352 – 3355 if momentum accelerates.
Stop loss: Below 3315 to limit downside risk.
Bearish Plan (if support fails)
An H1 close below 3315 would invalidate the bullish setup.
Downside targets open at 3305 – 3295.
Outlook
As long as 3320 support holds, the intraday bias leans bullish with room for recovery towards 3342 and possibly 3355.
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