From TradingView · · 40s
Gold breaks above spring trap zone
Gold surges past key resistance after spring trap reaction on 30-minute chart
In brief
Gold surges past key resistance after spring trap reaction on 30-minute chart Gold holds 4,290, 4,305 spring trap zone as critical support after breakout Originally reported by TradingView.
Gold breaks higher
Gold surged past 4,290, 4,305 spring trap zone after strong bullish expansion from 4,280, 4,290
“Gold has produced a strong bullish expansion from the 4,280, 4,290 region”
Key resistance tested
Price moved toward 4,330 after breaking above 4,305, 4,315 consolidation range
“The sharp displacement toward 4,330 shows a clear change in short-term momentum”
Bullish momentum shift
Sellers struggled to maintain bearish trend after repeated reactions around 4,260, 4,290
“The broader structure had remained bearish following the decline from the 4,430 region”
Critical support zone
Gold must hold 4,290, 4,305 spring trap area to confirm breakout strength
“The latest breakout above 4,305, 4,315 is therefore an important structural development”
Next price target
Bullish momentum could extend toward 4,360, 4,400 if price holds 4,340, 4,350
“If bullish momentum continues beyond that region, the recovery could gradually extend toward the previous structural areas around 4,360, 4,400”
The one thing
Gold holds 4,290, 4,305 spring trap zone as critical support after breakout
