Gold surged on Tuesday but then kept pulling back during the U.S. session, hitting a recent new low, with intense seesawing between bulls and bears currently. The fluctuating U.S. tariff policies have triggered volatility in risk-averse sentiment, while the over 95% probability that the Federal Reserve will keep interest rates unchanged in July has provided support to the U.S. dollar.
Technically, focus should be on the key support level around 3260 and the strong resistance range of 3320 above. The hourly chart shows short-term moving averages diverging downward, with candlesticks under pressure and showing short-term weakness, suggesting there is still a need for a pullback tomorrow. The current bull-bear watershed lies at the 3390 mark; if gold fails to break through and stabilize above 3315 effectively, any short-term rebound can be seen as a good opportunity to enter short positions.
The 4-hour chart indicates that gold found support near 3287 and slowly recovered losses, but it remains trapped in a consolidation pattern recently. Although the 3287 support is effective, the consolidation range has not been broken. The future direction depends on the actual defensive strength of the 3260 support level and the direction of the range breakout.
For Wednesday's trading, the main strategy is to go short on rebounds. Focus on the resistance zone of 3315-3320, where short positions can be established. The downside targets are 3270 and the key support level of 3260 in sequence. If 3260 is broken through effectively, it may open up more downward space.
XAUUSD
sell@3315-3320
tp:3300-3280-3260
Investment itself is not the source of risk; it is only when investment behavior escapes rational control that risks lie in wait. In the trading process, always bear in mind that restraining impulsiveness is the primary criterion for success. I share trading signals daily, and all signals have been accurate without error for a full month. Regardless of your past profits or losses, with my assistance, you have the hope to achieve a breakthrough in your investment.
Technically, focus should be on the key support level around 3260 and the strong resistance range of 3320 above. The hourly chart shows short-term moving averages diverging downward, with candlesticks under pressure and showing short-term weakness, suggesting there is still a need for a pullback tomorrow. The current bull-bear watershed lies at the 3390 mark; if gold fails to break through and stabilize above 3315 effectively, any short-term rebound can be seen as a good opportunity to enter short positions.
The 4-hour chart indicates that gold found support near 3287 and slowly recovered losses, but it remains trapped in a consolidation pattern recently. Although the 3287 support is effective, the consolidation range has not been broken. The future direction depends on the actual defensive strength of the 3260 support level and the direction of the range breakout.
For Wednesday's trading, the main strategy is to go short on rebounds. Focus on the resistance zone of 3315-3320, where short positions can be established. The downside targets are 3270 and the key support level of 3260 in sequence. If 3260 is broken through effectively, it may open up more downward space.
XAUUSD
sell@3315-3320
tp:3300-3280-3260
Investment itself is not the source of risk; it is only when investment behavior escapes rational control that risks lie in wait. In the trading process, always bear in mind that restraining impulsiveness is the primary criterion for success. I share trading signals daily, and all signals have been accurate without error for a full month. Regardless of your past profits or losses, with my assistance, you have the hope to achieve a breakthrough in your investment.
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Related publications
Disclaimer
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.