1. What happened last week?
As expected, Gold broke below the key 3340–3350 support zone and even slipped under 3300 during the Asian session this Monday, briefly reaching new short-term lows. The bearish pressure continues to dominate.
2. Key question now:
Is the drop over?
3. Why I expect the correction to end soon:
- The recent decline totaled nearly 1100 pips – a strong impulse move.
- Price is now undergoing a typical retracement after a steep sell-off.
- The previous support zone at 3340–3350 is now acting as resistance – a textbook role reversal.
- I expect this zone to attract sellers again.
4. My trading plan:
I remain bearish and plan to sell rallies, especially if the price shows rejection signs in the 3340–3350 area. This correction could offer an ideal re-entry for shorts at better risk/reward levels.
5. Final thoughts 🚀
The trend is still bearish. I’m waiting for the market to confirm resistance around 3340–3350 before executing my next move.
As expected, Gold broke below the key 3340–3350 support zone and even slipped under 3300 during the Asian session this Monday, briefly reaching new short-term lows. The bearish pressure continues to dominate.
2. Key question now:
Is the drop over?
3. Why I expect the correction to end soon:
- The recent decline totaled nearly 1100 pips – a strong impulse move.
- Price is now undergoing a typical retracement after a steep sell-off.
- The previous support zone at 3340–3350 is now acting as resistance – a textbook role reversal.
- I expect this zone to attract sellers again.
4. My trading plan:
I remain bearish and plan to sell rallies, especially if the price shows rejection signs in the 3340–3350 area. This correction could offer an ideal re-entry for shorts at better risk/reward levels.
5. Final thoughts 🚀
The trend is still bearish. I’m waiting for the market to confirm resistance around 3340–3350 before executing my next move.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.