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Gold is trading at $3,328 after bouncing off trendline support near $3,310, maintaining its upward trajectory within a rising channel on the 2-hour chart. This latest leg higher comes after price respected both the 50-EMA ($3,285) and 200-EMA ($3,269), reinforcing bullish structure. A strong candle has just printed above the midline of the channel, hinting at renewed momentum.
If the move holds, the next resistance to watch is $3,346, followed by $3,379. The bullish continuation looks more convincing now that gold has also cleared the prior high at $3,310.
For traders, a pullback to the $3,310–$3,285 zone could offer a better entry, especially if supported by a bullish candlestick setup like an engulfing or hammer. As long as price stays inside this channel, the uptrend remains intact.
Silver (XAG/USD) Price Forecast: Technical Outlook
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