Overall Market Sentiment
The bullish background remains strong: the dollar index is putting pressure on gold, while geopolitical tensions and expectations of a rate cut by the Fed are increasing demand for the safe-haven asset
Direction by indicators: on Investing.com — 9 “Buy” signals against 3 “Sell” signals on moving averages and a neutral overall state
Support and resistance levels
Key support levels: $3,320 and $3,368–$3,340. A rebound from this zone could serve as a starting point for growth
Resistance: it is important to break $3,400 — a psychological and technical barrier, above which a directional move to $3,450 and beyond will open
Short-term scenario (LiteFinance): gold is testing resistance in the $3,380–$3,391 zone; a drop from there could lead to $3,330 → $3,268, and a breakout to the upside would accelerate growth to $3,493–$3,515
Union traders are noting the movement after the breakout of $3,375: possible targets are $3,390, $3,402.56 and $3,416.39. A breakout below $3,374.91 could send gold to $3,358.25, $3,350.01 and $3,341.18
1H chart analysis: Gold confidently broke through the $3,350 level, opening a bullish scenario, confirmed by macro dynamics and expectations of monetary policy easing
The bullish background remains strong: the dollar index is putting pressure on gold, while geopolitical tensions and expectations of a rate cut by the Fed are increasing demand for the safe-haven asset
Direction by indicators: on Investing.com — 9 “Buy” signals against 3 “Sell” signals on moving averages and a neutral overall state
Support and resistance levels
Key support levels: $3,320 and $3,368–$3,340. A rebound from this zone could serve as a starting point for growth
Resistance: it is important to break $3,400 — a psychological and technical barrier, above which a directional move to $3,450 and beyond will open
Short-term scenario (LiteFinance): gold is testing resistance in the $3,380–$3,391 zone; a drop from there could lead to $3,330 → $3,268, and a breakout to the upside would accelerate growth to $3,493–$3,515
Union traders are noting the movement after the breakout of $3,375: possible targets are $3,390, $3,402.56 and $3,416.39. A breakout below $3,374.91 could send gold to $3,358.25, $3,350.01 and $3,341.18
1H chart analysis: Gold confidently broke through the $3,350 level, opening a bullish scenario, confirmed by macro dynamics and expectations of monetary policy easing
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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.