Gold Update – Strong Breaks, Strong BullsYesterday, after the break of the key 3370 resistance, Gold corrected slightly toward 3383, then consolidated briefly in that area. From there, it launched into a strong new leg up, closing the day once more near the highs, around 3430.
📌 What’s important here is that the price did not even come back to retest the broken resistance — now turned support. Combined with the strong daily close near the high of the range, this gives us a clear message:
➡️ Bulls are in full control.
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🔍 This Week – Three Key Breaks
So far this week, Gold has delivered three major breakouts:
• ✅ A clean breakout from the box consolidation that kept price stuck and indecisive last week
• ✅ A decisive break above the 3400 psychological figure
• ✅ A breakout above the symmetrical triangle resistance, which had been forming since late April
Each of these is significant on its own. Together, they suggest a shift toward a more aggressive bullish scenario.
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🔮 What’s Next?
All these breakouts point to the potential for more gains ahead.
In fact, the next logical step could be an attempt to mark a new All-Time High.
My view remains the same:
Buying dips remains the strategy of choice, with a focus on the 3400 zone as a key support area, and a swing target around 3500.
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
