Gold is consolidating just under the $3,353 level after yesterdays drop from $3,399.Price is holding below both the 50MA (pink) and 200MA (green), keeping the short-term bias tilted bearish.
If buyers manage to reclaim $3,353 and close back above the 200MA, the first upside target would be $3,380, followed by $3,399 and $3,422 if strength builds.
Failure to reclaim $3,353 could see sellers retest $3,329, then the $3,313-$3,295 Secondary Support Zone. A deeper breakdown would expose $3,281-$3,254 Higher Timeframe Support Zone.
📌 Key Levels
Resistance:
‣ $3,353
‣ $3,380
‣ $3,399
‣ $3,422
Support:
‣ $3,329
‣ $3,313
‣ $3,295
‣ $3,281
‣ $3,254
🔎 Fundamental Focus
All eyes on today’s U.S. CPI release.
⚠️ CPI days often see false breaks and whipsaws — let the market settle before taking positions.
If buyers manage to reclaim $3,353 and close back above the 200MA, the first upside target would be $3,380, followed by $3,399 and $3,422 if strength builds.
Failure to reclaim $3,353 could see sellers retest $3,329, then the $3,313-$3,295 Secondary Support Zone. A deeper breakdown would expose $3,281-$3,254 Higher Timeframe Support Zone.
📌 Key Levels
Resistance:
‣ $3,353
‣ $3,380
‣ $3,399
‣ $3,422
Support:
‣ $3,329
‣ $3,313
‣ $3,295
‣ $3,281
‣ $3,254
🔎 Fundamental Focus
All eyes on today’s U.S. CPI release.
⚠️ CPI days often see false breaks and whipsaws — let the market settle before taking positions.
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.