Price failed to break the $3,344 resistance yesterday, followed by a sharp move lower. It is currently trending just below the $3,324 resistance. Price remains capped under both moving averages, and the structure stays bearish.
The first resistance is at $3,324. A sustained move above $3,344 is needed to shift momentum, opening the path toward $3,364 and $3,386. If buyers fail to reclaim this level, the downside bias remains intact, with risk of a test into the Secondary Support Zone ($3,304–$3,281). A clean break below that would expose the HTF Support Zone ($3,254–$3,229).
📌Key Levels to Watch
Resistance:
‣ $3,324
‣ $3,344
‣ $3,364
‣ $3,386
‣ $3,406
Support:
‣ $3,304
‣ $3,281
‣ $3,254
‣ $3,229
🔎 Fundamental Focus:
The main event today is the FOMC Meeting Minutes , which could provide clearer signals on the Fed’s rate path and drive sharp moves in gold.
⚠️ Risk/Volatility Warning:
High-impact news flow begins today with the Fed minutes and continues into Thursday’s data and Friday’s Jackson Hole Symposium. Expect increased volatility and fakeouts – manage risk carefully and wait for confirmation before entering trades.
The first resistance is at $3,324. A sustained move above $3,344 is needed to shift momentum, opening the path toward $3,364 and $3,386. If buyers fail to reclaim this level, the downside bias remains intact, with risk of a test into the Secondary Support Zone ($3,304–$3,281). A clean break below that would expose the HTF Support Zone ($3,254–$3,229).
📌Key Levels to Watch
Resistance:
‣ $3,324
‣ $3,344
‣ $3,364
‣ $3,386
‣ $3,406
Support:
‣ $3,304
‣ $3,281
‣ $3,254
‣ $3,229
🔎 Fundamental Focus:
The main event today is the FOMC Meeting Minutes , which could provide clearer signals on the Fed’s rate path and drive sharp moves in gold.
⚠️ Risk/Volatility Warning:
High-impact news flow begins today with the Fed minutes and continues into Thursday’s data and Friday’s Jackson Hole Symposium. Expect increased volatility and fakeouts – manage risk carefully and wait for confirmation before entering trades.
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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.