XAU/USD Below Pivot, Watching 3352 for Bullish Confirmation
Gold prices edged up today as investors shifted their focus to the U.S. fiscal situation and lingering uncertainty ahead of the July 9 deadline when U.S. tariffs are set to take effect. But at the same time, we have strong resistance on the way.
The price continues to move below the pivot level and the 3352 resistance, which together form a strong supply zone.
A confirmed breakout above 3352 on the 4H candle is needed to validate a bullish move toward 3365. However, the possibility of a renewed decline remains unless the price also breaks above 3365, which would confirm a continuation of the upward trend.
The bearish trend remains active as long as the price trades below the pivot at 3348 and the 3352 level. Sustained trading below this zone would likely lead to a decline toward 3320 and 3313.
Key Technical Levels
Resistance: 3352 - 3365 - 3400.
Support Levels: 3320 - 3313 - 3218.
Pivot Line: 3348
Gold prices edged up today as investors shifted their focus to the U.S. fiscal situation and lingering uncertainty ahead of the July 9 deadline when U.S. tariffs are set to take effect. But at the same time, we have strong resistance on the way.
The price continues to move below the pivot level and the 3352 resistance, which together form a strong supply zone.
A confirmed breakout above 3352 on the 4H candle is needed to validate a bullish move toward 3365. However, the possibility of a renewed decline remains unless the price also breaks above 3365, which would confirm a continuation of the upward trend.
The bearish trend remains active as long as the price trades below the pivot at 3348 and the 3352 level. Sustained trading below this zone would likely lead to a decline toward 3320 and 3313.
Key Technical Levels
Resistance: 3352 - 3365 - 3400.
Support Levels: 3320 - 3313 - 3218.
Pivot Line: 3348
Trade active
XAU/USD Update – Bearish Trend Plays Out, Watching 3320 ZoneGold followed through with the bearish scenario discussed earlier, breaking below 3,352 and reaching our anticipated support zone near 3,320, even touching 3,314.
At this stage:
Bearish momentum remains active as long as price stays below 3,341
A 1H candle close below 3,320 would likely confirm continuation toward the next support at 3,297
Any recovery attempt would need a solid reclaim of 3,348–3,352 to shift the short-term bias
Key Levels:
• Resistance: 3,341 / 3,348 / 3,352
• Support: 3,320 / 3,297
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.