Yesterday’s Move
Yesterday, after the initial rejection from the 3370 resistance zone, Gold broke below the 3350 confluence support and tumbled toward the 3330 key support. Since then, the price has been consolidating, with low volatility — largely due to the European bank holiday.
Key Question
Has the market gathered enough energy for another leg down, or will buyers manage to defend 3330?
Why a Bearish Continuation Is Possible
- The 3330 zone is now being tested repeatedly, showing weakening buying interest
- A confirmed break under 3330 would open the way toward the 3280 support zone.
Trading Plan
I will watch for a clear break under 3330 during the New York session, aiming for a move toward 3280. Any long position becomes interesting only if we get a daily close above 3360.
Final Note
The market still needs to confirm — patience is key.
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Yesterday, after the initial rejection from the 3370 resistance zone, Gold broke below the 3350 confluence support and tumbled toward the 3330 key support. Since then, the price has been consolidating, with low volatility — largely due to the European bank holiday.
Key Question
Has the market gathered enough energy for another leg down, or will buyers manage to defend 3330?
Why a Bearish Continuation Is Possible
- The 3330 zone is now being tested repeatedly, showing weakening buying interest
- A confirmed break under 3330 would open the way toward the 3280 support zone.
Trading Plan
I will watch for a clear break under 3330 during the New York session, aiming for a move toward 3280. Any long position becomes interesting only if we get a daily close above 3360.
Final Note
The market still needs to confirm — patience is key.
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
📈 Forex & XAU/USD Channel:
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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.
📈 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.