Gold Price Forecast Today: Key Trendline Holding at 3336.62

 

Gold forecast next week analysis

Hello traders, let's forecast gold, as you can see below, in the daily timeframe, the price of gold has stopped at its trend line and is taking support from there, which is the price of 3336.624. If you are a buy, then the simple thing is to take confirmation in the H1 timeframe. For a buy, you will see that if it makes a double bottom in H1, its neckline breaks out, then you can take a buy entry.

Entry explain 

Otherwise, for a simple sell, wait for this trend line to break out from below and after that, you can make a sell entry in H1 or in the lower timeframe. These are two scenarios: buy and sell on the chart pair of gold.

H1 TF

And let me tell you one thing, this trend line has a structural support level of H1, which you will see in a gray zone. There are chances at the structural level that the market will give you an entry. For this, I have already told you above how the confirmation will happen. If the neckline of the double bottom breaks for the price, then you have to buy.

Otherwise, if the market cannot sustain it, then simply let this trend line and the major support level of H1 break out, after which you can go for an upsell and make an entry.