Gold is showing clear signs of weakness after being firmly rejected at the upper boundary of a symmetrical triangle around the $3,330–$3,340 zone. Sellers have regained control, pushing price toward the key support at $3,254 – a level that previously marked a short-term bottom.
If this support breaks, the bearish structure could extend further toward the $3,120 region. The downward pressure is reinforced by stronger-than-expected U.S. employment data and hawkish FOMC minutes, which have strengthened the dollar and diminished gold's appeal.
If this support breaks, the bearish structure could extend further toward the $3,120 region. The downward pressure is reinforced by stronger-than-expected U.S. employment data and hawkish FOMC minutes, which have strengthened the dollar and diminished gold's appeal.
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⚡ Fast updates – Never miss a golden entry
Related publications
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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.