Intraday Trend Analysis:
After a strong bullish impulse, gold faced a key resistance zone at 3560 – 3565 (highlighted in purple), which caused a reversal to the downside.
The corrective move (blue arrow) found support around 3520 – 3525, where buyers stepped in again.
The broader structure is still bullish (uptrend), but momentum has slowed down after testing the strong resistance. Price is currently consolidating in a corrective phase.
Key Technical Levels:
Resistance:
3548 – 3555: immediate resistance.
3560 – 3565: major resistance, previous high zone.
Support:
3520 – 3525: near-term support.
3500: psychological support.
3470: deeper support if correction extends.
Trading Strategies:
Trend-following Buy Setup:
Look for long entries near 3520 – 3525 or on a retest of the ascending trendline.
Stop loss below 3500.
Targets: 3550 – 3565.
Counter-trend Sell Setup (short-term):
Only for short-term traders.
Consider short entries if price retests 3560 – 3565 with rejection signals.
Stop loss above 3575.
Take profit around 3530 – 3520.
Conclusion:
Gold remains in an overall uptrend, but current price action shows a healthy pullback. The 3520 zone is crucial — holding above it supports bullish continuation, while a break below could push price toward 3500. Monitoring reactions at these levels will be key for intraday setups.
👉 Save these support and resistance levels for better trading decisions.
