Gold bounced from the lower Support Zone after briefly breaching $3,270. Price is now attempting a recovery, currently trading near $3,290, but remains below both the 50 EMA and 200 EMA — confirming bearish pressure is still intact.
For bulls to gain momentum, we need to see a clean break and hold above $3,298–$3,327which would open the path toward $3,352 and possibly higher resistance levels like $3,364 and $3,383.
Until then, this move may simply be a short-term pullback within a broader downtrend. If price fails to reclaim $3,327, watch for a drop back toward $3,270, with a deeper correction targeting the $3,241–$3,211 zone.
📌 Key Levels to Watch:
Resistance:
$3,298 • $3,327 • $3,352 • $3,364 • $3,383
Support:
$3,270 • $3,241 • $3,211 • $3,179
🧠 Fundamental Focus:
This week is packed with high-impact events — including Non-Farm Payrolls on Thursday. These could trigger sharp moves in gold, so stay cautious and manage risk wisely.
For bulls to gain momentum, we need to see a clean break and hold above $3,298–$3,327which would open the path toward $3,352 and possibly higher resistance levels like $3,364 and $3,383.
Until then, this move may simply be a short-term pullback within a broader downtrend. If price fails to reclaim $3,327, watch for a drop back toward $3,270, with a deeper correction targeting the $3,241–$3,211 zone.
📌 Key Levels to Watch:
Resistance:
$3,298 • $3,327 • $3,352 • $3,364 • $3,383
Support:
$3,270 • $3,241 • $3,211 • $3,179
🧠 Fundamental Focus:
This week is packed with high-impact events — including Non-Farm Payrolls on Thursday. These could trigger sharp moves in gold, so stay cautious and manage risk wisely.
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.
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.