Gold remains under pressure, currently trading around 3,312. Price is holding just above the 3,309–3,289 Support Zone, but remains below both the 50MA and 200MA, which continue to slope downward—indicating short-term bearish pressure.
As long as price remains below the 3,334–3,348 resistance zone, the bearish momentum is intact. A clean break above this area would be the first sign of recovery, opening the path toward 3,362 and 3,373, where the next round of supply may emerge.
If price fails to reclaim 3,334 and breaks below 3,309, the 3,289–3,267 Support Zone becomes the next key downside target. Failure to hold that level would expose the HTF Support Zone (3,241–3,208).
📌 Key Levels to Watch
Resistance:
‣ 3,334
‣ 3,348
‣ 3,362
‣ 3,373
Support:
‣ 3,309
‣ 3,289
‣ 3,267
‣ 3,241
🔍 Fundamental Focus – Tuesday, July 29
Heads up — today’s focus is on 4:00pm, when we get JOLTS Job Openings 🟥 and CB Consumer Confidence 🟡
⚠️ Stay light and nimble — bigger moves may come tomorrow with red-folder data stacking up.
As long as price remains below the 3,334–3,348 resistance zone, the bearish momentum is intact. A clean break above this area would be the first sign of recovery, opening the path toward 3,362 and 3,373, where the next round of supply may emerge.
If price fails to reclaim 3,334 and breaks below 3,309, the 3,289–3,267 Support Zone becomes the next key downside target. Failure to hold that level would expose the HTF Support Zone (3,241–3,208).
📌 Key Levels to Watch
Resistance:
‣ 3,334
‣ 3,348
‣ 3,362
‣ 3,373
Support:
‣ 3,309
‣ 3,289
‣ 3,267
‣ 3,241
🔍 Fundamental Focus – Tuesday, July 29
Heads up — today’s focus is on 4:00pm, when we get JOLTS Job Openings 🟥 and CB Consumer Confidence 🟡
⚠️ Stay light and nimble — bigger moves may come tomorrow with red-folder data stacking up.
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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.