Gold remains in a bearish structure, consolidating in a narrow range after the sharp drop earlier this week. Price is trading around 3,330, testing the 3,334 resistance zone while still below the 200MA (3,362), which may act as dynamic resistance.
As long as price stays below 3,348–3,362, the bias remains to the downside, with a break below 3,309 likely exposing the 3,289–3,267 support zone.
A clean reclaim above 3,334- 3,348 would neutralize the immediate downside pressure and open the path back toward 3,373–3,387.
📌 Key Levels to Watch
Resistance:
‣ 3,334
‣ 3,348
‣ 3,362
‣ 3,373
‣ 3,387
Support:
‣ 3,309
‣ 3,289
‣ 3,267
‣ 3,241
🔎Fundamental Focus – FOMC
The FOMC rate decision and Powell’s press conference later today will be the key driver for gold. Expect sharp volatility and potential whipsaws around the release.
⚠️ Manage risk carefully, avoid chasing initial spikes, and wait for clear direction once the event dust settles.
As long as price stays below 3,348–3,362, the bias remains to the downside, with a break below 3,309 likely exposing the 3,289–3,267 support zone.
A clean reclaim above 3,334- 3,348 would neutralize the immediate downside pressure and open the path back toward 3,373–3,387.
📌 Key Levels to Watch
Resistance:
‣ 3,334
‣ 3,348
‣ 3,362
‣ 3,373
‣ 3,387
Support:
‣ 3,309
‣ 3,289
‣ 3,267
‣ 3,241
🔎Fundamental Focus – FOMC
The FOMC rate decision and Powell’s press conference later today will be the key driver for gold. Expect sharp volatility and potential whipsaws around the release.
⚠️ Manage risk carefully, avoid chasing initial spikes, and wait for clear direction once the event dust settles.
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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.
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.