📈 Summary:
Gold continues to present favorable short-term opportunities within a defined range structure. During the recent session, price action dipped towards the #3,286.00 area, where it found temporary support and initiated a modest bullish bounce. My initial short positions from the #3,314.70 resistance zone delivered quick scalping profits into the lower #3,290.00 area, and from there I monitored for potential buying setups around the demand belt of #3,285.00 - #3,288.00. I executed aggressive scalps from this range and closed partials as price flirted with the #3,292.80 zone. No major continuation was seen, so I preserved capital and stayed light ahead of upcoming directional confirmation.
🔍 Technical Analysis:
Gold remains under pressure as long as the #3,314.70 - #3,320.00 zone acts as resistance. The 4H structure remains in a short-term downtrend, with lower highs and lower lows, although price is attempting to stabilize around key support at #3,285.00. This is an inflection area, as failure to hold could push Gold further down into the #3,250.00 monthly support target.
Upside scenarios remain valid only if we see a clean break and 4H candle close above #3,302.00 followed by #3,314.70. In that case, a potential test towards #3,331.00 - #3,333.70 resistance zone becomes viable. Until then, price remains trapped in a corrective channel with overlapping price action.
Bearish Continuation Path:
Break below #3,285.00 support would likely trigger stops and drive price down to #3,270.00 and ultimately #3,250.00, completing a full correction leg.
Bullish Reversal Path:
Sustained trading above #3,302.00 with momentum above #3,314.70 would invalidate immediate bearish bias and shift short-term trend to bullish with target zones at #3,331.00 and #3,333.70.
Conclusion:
Gold is in a wait-and-react zone. Bias remains slightly bearish under #3,302.00 but ready to flip should bulls regain control above #3,314.70. Key volatility expected as fundamental catalysts (Fed, NFP, geopolitical tension) are still unfolding.
📌 Disclaimer:
Forex and commodity markets carry significant risk and are not suitable for all investors. Past performance is not indicative of future results—trade wisely and always use proper risk management
Gold continues to present favorable short-term opportunities within a defined range structure. During the recent session, price action dipped towards the #3,286.00 area, where it found temporary support and initiated a modest bullish bounce. My initial short positions from the #3,314.70 resistance zone delivered quick scalping profits into the lower #3,290.00 area, and from there I monitored for potential buying setups around the demand belt of #3,285.00 - #3,288.00. I executed aggressive scalps from this range and closed partials as price flirted with the #3,292.80 zone. No major continuation was seen, so I preserved capital and stayed light ahead of upcoming directional confirmation.
🔍 Technical Analysis:
Gold remains under pressure as long as the #3,314.70 - #3,320.00 zone acts as resistance. The 4H structure remains in a short-term downtrend, with lower highs and lower lows, although price is attempting to stabilize around key support at #3,285.00. This is an inflection area, as failure to hold could push Gold further down into the #3,250.00 monthly support target.
Upside scenarios remain valid only if we see a clean break and 4H candle close above #3,302.00 followed by #3,314.70. In that case, a potential test towards #3,331.00 - #3,333.70 resistance zone becomes viable. Until then, price remains trapped in a corrective channel with overlapping price action.
Bearish Continuation Path:
Break below #3,285.00 support would likely trigger stops and drive price down to #3,270.00 and ultimately #3,250.00, completing a full correction leg.
Bullish Reversal Path:
Sustained trading above #3,302.00 with momentum above #3,314.70 would invalidate immediate bearish bias and shift short-term trend to bullish with target zones at #3,331.00 and #3,333.70.
Conclusion:
Gold is in a wait-and-react zone. Bias remains slightly bearish under #3,302.00 but ready to flip should bulls regain control above #3,314.70. Key volatility expected as fundamental catalysts (Fed, NFP, geopolitical tension) are still unfolding.
📌 Disclaimer:
Forex and commodity markets carry significant risk and are not suitable for all investors. Past performance is not indicative of future results—trade wisely and always use proper risk management
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.
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.