Gold Price Analysis: Key Fibonacci Levels & Gann Squares to Watch

Gold Market Outlook: Critical Levels for Traders

Gold prices have shown significant volatility recently, with key technical levels determining the metal’s next major move. After briefly surpassing $3,300\ast \ast ,goldhita\ast \ast short-termtargetat$3,446 (78.6% Fibonacci retracement), a crucial Gann square resistance level. However, failure to break higher could signal a potential reversal or deeper pullback.

Key Support & Resistance Levels for Gold

1. Immediate Swing Point: $3,268

• Below $3,268:

  • Short-term target at $3,164.40 (38.2% retracement from Nov 2024 low + Gann square).

  • Longer-term downside risk toward $3,070.50 (23.6% retracement from 2022 low).

  • Major long-term support at $2,810 (38.2% retracement from 2022 low).

• Above $3,268:

  • Potential rebound toward $3,356–$3,366 (61.8% retracement & Gann square).

  • A sustained move above $3,273 (38.2% retracement) could signal renewed bullish momentum.

2. Critical Watch: $3,164.40

• Holding above $3,164.40 suggests bullish continuation, possibly targeting new highs.

• Breaking below opens risk toward $3,070.50\ast \ast and\ast \ast$2,810 (long-term structural support).

Fibonacci & Gann Analysis: Why These Levels Matter

• The 78.6% retracement level is a classic reversal zone in Fibonacci trading.

• Gann squares often act as magnet areas for price action.

• The ONE44 trading rules suggest that failure at key Fib levels often leads to sharp reversals.

Gold’s Bullish vs. Bearish Scenarios

✅ Bullish Case:

• Holding $3,164.40\ast \ast couldpropelgoldtoward\ast \ast$3,440+.

• A breakout above $3,446 may extend the bull run.

❌ Bearish Case:

• Losing $3,164.40\ast \ast risksadropto\ast \ast$3,070 and possibly $2,810.

• Failure to reclaim $3,273 would confirm weakness.

How to Trade Gold Using Fibonacci & Gann Theory

• Watch for price reactions at $3,268and$3,164.40 for short-term direction.

• A close below $3,164.40 could trigger further downside.

• New highs above $3,446 would invalidate bearish signals.

For traders seeking deeper insights, our 47-video series on Fibonacci retracements explains how these principles apply across all markets.