Fake breakout confirmed near 155,000 resistance. Price pulled back, but trendline support held perfectly. Now coiling again.
Structure: Rising trendline from week lows intact
EMA 55 acting as dynamic support
Price holding above 152,075–152,233 zone
Key Levels This Week:
Resistance 154,500 – 155,000
Support 1152,233 - 151,000
Two scenarios:
📈 Hold above 152,233 - retest 155,000
📉 Break below 152,000 - 151,000 next
Trendline intact. But 155,000 is a wal, clean breakout with volume needed before committing.
Fake breakouts shake weak hands. Structure still bullish.
Let me know if you agree with my idea or not?
⚠️ Educational only. Not investment advice.
#MCXGold #XAUUSD #GoldTrading #TechnicalAnalysis #WeeklyView
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.