Gold Futures (GC1!) Update

Current Price: ~$3,588

Gold recently broke out to new highs but is now pulling back after a sharp rally.

✅ Bullish Case

* Trend is still strong overall (higher highs & higher lows).
* If price holds above $3,550–$3,570, bulls may push for a retest of $3,620–$3,650.

❌ Bearish Case

*If gold breaks below $3,550, a deeper pullback toward $3,480–$3,450 is possible.

🎯 Takeaway

* Short-term pullback after a strong run.
* Key support = $3,550 zone.
* Watch for a bounce to confirm continuation, or a break lower for correction.


📝 Quick Chart Guide for Newbies

* Candlesticks: Green = price went up, Black = price went down.
* Trend: Gold has been trending up since late 2024 (higher peaks & dips).
* Resistance: Around $3,620–$3,650 (where sellers step in).
* Key Support: Around $3,550 (where buyers step in).

👉 In simple terms: Gold is still bullish, but needs to stay above $3,550 to keep momentum.

👉 What’s your bias? Long continuation or short-term pullback?

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-Neo