Gold is currently forming a trading range, with recent price action indicating a test of support, which may mark the end of the recent pullback. Yesterday, gold retraced toward the 3391 level, showing signs of short-term recovery.
Key Market Focus
The market is closely watching developments around the Federal Reserve appointment, including the potential replacement of Chair Powell. Trade-related comments from Donald Trump are also creating uncertainty. These geopolitical and macroeconomic factors may trigger a new correction or volatility phase in gold.
Resistance: 3400 / 3425
Support: 3355 / 3350
Price action confirmed a false breakout to the downside, with strong buying interest near the 3350–3355 support zone. If the price holds above this support, it strengthens the case for a bullish continuation. A break and close above 3400 could pave the way toward 3425 and potentially higher Growth.
You may find more details in the chart.
Trade wisely Best of Luck Buddies.
Ps: Support with like and comments for better analysis Thanks
Key Market Focus
The market is closely watching developments around the Federal Reserve appointment, including the potential replacement of Chair Powell. Trade-related comments from Donald Trump are also creating uncertainty. These geopolitical and macroeconomic factors may trigger a new correction or volatility phase in gold.
Resistance: 3400 / 3425
Support: 3355 / 3350
Price action confirmed a false breakout to the downside, with strong buying interest near the 3350–3355 support zone. If the price holds above this support, it strengthens the case for a bullish continuation. A break and close above 3400 could pave the way toward 3425 and potentially higher Growth.
You may find more details in the chart.
Trade wisely Best of Luck Buddies.
Ps: Support with like and comments for better analysis Thanks
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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.