📊 Market Overview:
Gold surged to 3329.5, approaching key resistance, but quickly dropped to 3319.8 due to strong selling pressure, signaling short-term profit-taking. It’s now slightly recovering and trading around 3321.
📉 Technical Analysis:
• Key Resistance: 3329 – 3335
• Nearest Support: 3308 – 3285
• EMA 09: Price remains above EMA 09 → uptrend still intact.
• Candlestick / Volume / Momentum: H1 candle shows long upper wick at resistance. High volume at the top suggests profit-taking activity.
📌 Outlook:
Gold may continue a short-term correction if it fails to break above 3330 decisively. Bulls need to hold 3308 to maintain the upward structure.
💡 Suggested Trading Strategy:
🔻 SELL XAU/USD : 3330 – 3333
🎯 TP: 40/80/200 pips
❌ SL: 3336
🔺 BUY XAU/USD at: 3302 – 3305
🎯 TP: 40/80/200 pips
❌ SL: 3399
Gold surged to 3329.5, approaching key resistance, but quickly dropped to 3319.8 due to strong selling pressure, signaling short-term profit-taking. It’s now slightly recovering and trading around 3321.
📉 Technical Analysis:
• Key Resistance: 3329 – 3335
• Nearest Support: 3308 – 3285
• EMA 09: Price remains above EMA 09 → uptrend still intact.
• Candlestick / Volume / Momentum: H1 candle shows long upper wick at resistance. High volume at the top suggests profit-taking activity.
📌 Outlook:
Gold may continue a short-term correction if it fails to break above 3330 decisively. Bulls need to hold 3308 to maintain the upward structure.
💡 Suggested Trading Strategy:
🔻 SELL XAU/USD : 3330 – 3333
🎯 TP: 40/80/200 pips
❌ SL: 3336
🔺 BUY XAU/USD at: 3302 – 3305
🎯 TP: 40/80/200 pips
❌ SL: 3399
Trade active
Currently, gold prices are moving sideways in the 3,322–3,330 USD/oz range, lacking a clear trend, partly because the market is waiting for the upcoming Unemployment Claims report.Trade closed: target reached
Gold dropped from 3330 to the support level at 3309 and quickly bounced back, currently trading around 3320. This move indicates that buying pressure remains strong at the support zone, allowing for a swift recovery. However, the short-term trend is still unclear as gold has yet to break above the 3330 resistance. If the price holds above 3315–3320, a retest of the 3335–3340 area is likely. On the other hand, a break below 3309 could open the way for a deeper decline toward 3300 or lower.
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Disclaimer
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📊 Forex | Gold | Crypto Market Insights & Signals
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
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.