Gold is trading around $3,344 after failing to break $3,367 minor resistance and hold above the $3,353 level, with both the 50MA (pink) and 200MA (green) now sitting above price and acting as dynamic resistance.
A break and sustained hold back above $3,353 would be needed to regain short-term bullish momentum, opening the path to $3,367 (minor resistance) and $3,380. Failure to reclaim $3,353 keeps the bias tilted bearish, with downside pressure likely toward $3,329 and $3,313 - $3,295.
Current structure remains under pressure while price stays below the moving averages, with sellers holding the near-term advantage.
📋 Bullish Plan
The $3,329–$3,313 zone aligns with main buy-side liquidity and a fair value gap on both the 1H and 4H charts — making it a high-probability reaction area.
📌 Key Levels
Resistance:
‣ $3,353
‣ $3,367
‣ $3,380
‣ $3,399
Support:
‣ $3,329
‣ $3,313
‣ $3,295
‣ $3,281
🔎 Fundamental Focus – Fri, Aug 15
Busy session ahead with multiple high-impact US releases, including Core Retail Sales, Retail Sales, and Import Prices — key indicators for consumer demand and inflation trends that can directly affect USD and gold volatility.
Later, we have Prelim UoM Consumer Sentiment and Inflation Expectations, which may influence market expectations for Fed policy.
⚠️ It’s Friday — expect high volatility spikes. Manage risk carefully and avoid holding unnecessary exposure over the weekend.
A break and sustained hold back above $3,353 would be needed to regain short-term bullish momentum, opening the path to $3,367 (minor resistance) and $3,380. Failure to reclaim $3,353 keeps the bias tilted bearish, with downside pressure likely toward $3,329 and $3,313 - $3,295.
Current structure remains under pressure while price stays below the moving averages, with sellers holding the near-term advantage.
📋 Bullish Plan
The $3,329–$3,313 zone aligns with main buy-side liquidity and a fair value gap on both the 1H and 4H charts — making it a high-probability reaction area.
📌 Key Levels
Resistance:
‣ $3,353
‣ $3,367
‣ $3,380
‣ $3,399
Support:
‣ $3,329
‣ $3,313
‣ $3,295
‣ $3,281
🔎 Fundamental Focus – Fri, Aug 15
Busy session ahead with multiple high-impact US releases, including Core Retail Sales, Retail Sales, and Import Prices — key indicators for consumer demand and inflation trends that can directly affect USD and gold volatility.
Later, we have Prelim UoM Consumer Sentiment and Inflation Expectations, which may influence market expectations for Fed policy.
⚠️ It’s Friday — expect high volatility spikes. Manage risk carefully and avoid holding unnecessary exposure over the weekend.
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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.
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.