Gold has bounced strongly from the key support zone at 3612 – 3626 (green box) and is now trading around 3685. This bullish reaction shows renewed buying interest at this level.
Gold Analysis
The main resistance ahead lies in the 3694 – 3698 zone (red box), where sellers previously pushed the price lower. A breakout and close above this level could open the door for further upside toward 3710 – 3720.
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On the other hand, if the price fails to break through the resistance, we may see another pullback toward 3650 or even a retest of the 3620 support area.
Summary
🔹 Bullish Scenario: Break and hold above 3698 → Next target 3710 – 3720.
🔹 Bearish Scenario: Rejection from 3698 → Possible drop back to 3650 and 3620.
Traders should closely watch price action near this resistance and manage risk carefully before entering any trades.
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