Good afternoon, everyone!
During today’s session, gold successfully moved into the anticipated resistance zone of 3386–3398, and encountered significant selling pressure near 3398, resulting in a retracement to around 3372. While the price action aligned with prior expectations, the delayed timing has led to a bearish shift in the technical structure, which may hinder further upside momentum for the bulls.
That said, important economic data will be released during the US session later today. We’ll need to observe whether bulls can leverage the potential catalyst to break through the current resistance levels.
⚠️ Trading Strategy Recommendation:
Regardless of the data outcome, it is advisable to maintain a bearish bias in subsequent trades.
From a technical standpoint, the higher the price climbs, the greater the probability of a pullback, making short positions relatively less risky.
📌 Reference Range:
Continue to monitor and trade within the key zones outlined yesterday, adjusting entries and exits as per intraday developments.
During today’s session, gold successfully moved into the anticipated resistance zone of 3386–3398, and encountered significant selling pressure near 3398, resulting in a retracement to around 3372. While the price action aligned with prior expectations, the delayed timing has led to a bearish shift in the technical structure, which may hinder further upside momentum for the bulls.
That said, important economic data will be released during the US session later today. We’ll need to observe whether bulls can leverage the potential catalyst to break through the current resistance levels.
⚠️ Trading Strategy Recommendation:
Regardless of the data outcome, it is advisable to maintain a bearish bias in subsequent trades.
From a technical standpoint, the higher the price climbs, the greater the probability of a pullback, making short positions relatively less risky.
📌 Reference Range:
Continue to monitor and trade within the key zones outlined yesterday, adjusting entries and exits as per intraday developments.
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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.
I’ve created a channel where I’ll be posting market analysis and trading signals.
Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
t.me/+h6RM5RdP6X9hNmI8
Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
t.me/+h6RM5RdP6X9hNmI8
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.