GOLD – Overview
Gold Falls, Erasing War-Driven Gains
Gold has reversed all gains made since Israel launched strikes against Iran, despite rising geopolitical tensions.
The precious metal failed to hold its safe-haven bid and now appears to be entering a technical correction phase.
While the Federal Reserve struck a dovish tone during Wednesday’s meeting — signaling potential rate cuts this year — real rates remain elevated, which continues to weigh on non-yielding assets like gold.
Technical Outlook:
Gold corrected perfectly to our support level at 3347, as forecasted in the previous idea.
• As long as price trades above 3365, bullish momentum remains active
• Next targets: 3393 → 3404
• A 1H candle close above 3404 would confirm bullish continuation toward 3430 and 3448
A break below 3347 would shift the structure bearish.
Key Levels:
• Support: 3365 / 3347 / 3322
• Resistance: 3393 / 3404 / 3430 / 3448
previous idea:
Gold Falls, Erasing War-Driven Gains
Gold has reversed all gains made since Israel launched strikes against Iran, despite rising geopolitical tensions.
The precious metal failed to hold its safe-haven bid and now appears to be entering a technical correction phase.
While the Federal Reserve struck a dovish tone during Wednesday’s meeting — signaling potential rate cuts this year — real rates remain elevated, which continues to weigh on non-yielding assets like gold.
Technical Outlook:
Gold corrected perfectly to our support level at 3347, as forecasted in the previous idea.
• As long as price trades above 3365, bullish momentum remains active
• Next targets: 3393 → 3404
• A 1H candle close above 3404 would confirm bullish continuation toward 3430 and 3448
A break below 3347 would shift the structure bearish.
Key Levels:
• Support: 3365 / 3347 / 3322
• Resistance: 3393 / 3404 / 3430 / 3448
previous idea:
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.