Gold Breaks Below 3300 – A Buying Opportunity or Sign of Deeper Correction?
🧭 Weekly Kickoff: Is the Sell-off Really That Dangerous?
At the start of the week, gold experienced a sharp drop to 3306 USD, breaking through the psychological 3300 support level and testing the 329x region. However, this isn't necessarily a sign of a sustainable downtrend — it's more likely a liquidity sweep before the market consolidates again for a bigger move.
🌐 Macro Updates Impacting Gold:
US inflation continues to ease, providing space for the Fed to loosen policy if needed.
FOMC minutes due soon — markets will be closely watching for clues about possible rate cuts.
Tensions in Gaza de-escalate temporarily, leading to a slight reduction in demand for safe-haven assets.
Trump's new tax bill has been passed, adding pressure to US public debt.
US–China trade war may be delayed — reducing short-term geopolitical pressure.
In summary, we are in a consolidation phase, with a high probability of a breakout in the coming days.
📉 Technical Analysis – CP Pattern in Focus
We are seeing a Continuation Pattern (CP), which generally signals that the current correction is a pause before the trend continues.
After rejecting resistance at 3336, gold fell, breaking through the 3323 support and quickly testing the 3303 zone, a key short-term support.
If gold breaks below 3293, the next target will be the 3278 USD liquidity zone, where strong buying could emerge.
📌 Key Trading Plan – 04 July
🔵 BUY ZONE
3294 – 3292
Stop Loss: 3288
Take Profit: 3298 → 3302 → 3306 → 3310 → 3315 → 3320 → 3330
🔴 SELL SCALP
3324 – 3326
Stop Loss: 3330
Take Profit: 3320 → 3316 → 3312 → 3308 → 3304 → 3300
🔴 SELL ZONE
3350 – 3352
Stop Loss: 3356
Take Profit: 3346 → 3340 → 3335 → 3330 → 3320
🧠 Market Sentiment Today
The market is currently in a consolidation phase, likely trading sideways between 3320 and 3340. A breakout seems likely once the liquidity from the US holiday subsides.
✅ Primary Bias: Look to buy dips into support zones.
⚠️ Alternative View: Only consider selling if price clearly rejects key resistance levels.
💬 What’s Your View on Gold Today?
Do you think gold will break through 3390 soon, or is there more room for a deeper correction towards 3270?
👇 Share your thoughts and analysis in the comments below!
🧭 Weekly Kickoff: Is the Sell-off Really That Dangerous?
At the start of the week, gold experienced a sharp drop to 3306 USD, breaking through the psychological 3300 support level and testing the 329x region. However, this isn't necessarily a sign of a sustainable downtrend — it's more likely a liquidity sweep before the market consolidates again for a bigger move.
🌐 Macro Updates Impacting Gold:
US inflation continues to ease, providing space for the Fed to loosen policy if needed.
FOMC minutes due soon — markets will be closely watching for clues about possible rate cuts.
Tensions in Gaza de-escalate temporarily, leading to a slight reduction in demand for safe-haven assets.
Trump's new tax bill has been passed, adding pressure to US public debt.
US–China trade war may be delayed — reducing short-term geopolitical pressure.
In summary, we are in a consolidation phase, with a high probability of a breakout in the coming days.
📉 Technical Analysis – CP Pattern in Focus
We are seeing a Continuation Pattern (CP), which generally signals that the current correction is a pause before the trend continues.
After rejecting resistance at 3336, gold fell, breaking through the 3323 support and quickly testing the 3303 zone, a key short-term support.
If gold breaks below 3293, the next target will be the 3278 USD liquidity zone, where strong buying could emerge.
📌 Key Trading Plan – 04 July
🔵 BUY ZONE
3294 – 3292
Stop Loss: 3288
Take Profit: 3298 → 3302 → 3306 → 3310 → 3315 → 3320 → 3330
🔴 SELL SCALP
3324 – 3326
Stop Loss: 3330
Take Profit: 3320 → 3316 → 3312 → 3308 → 3304 → 3300
🔴 SELL ZONE
3350 – 3352
Stop Loss: 3356
Take Profit: 3346 → 3340 → 3335 → 3330 → 3320
🧠 Market Sentiment Today
The market is currently in a consolidation phase, likely trading sideways between 3320 and 3340. A breakout seems likely once the liquidity from the US holiday subsides.
✅ Primary Bias: Look to buy dips into support zones.
⚠️ Alternative View: Only consider selling if price clearly rejects key resistance levels.
💬 What’s Your View on Gold Today?
Do you think gold will break through 3390 soon, or is there more room for a deeper correction towards 3270?
👇 Share your thoughts and analysis in the comments below!
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
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.
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
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.