Gold is trading around $3,326, moving lower after repeated failures to reclaim the $3,344 resistance yesterday. Price is now testing the lower edge of the First Support Zone ($3,324–$3,344).
It remains capped below both the 50MA (pink) and 200MA (green), which have flattened out, indicating a bearish or indecisive market structure.
If sellers gain momentum and break below $3,324, focus shifts toward the Secondary Support Zone ($3,304–$3,281). A clean break under $3,281 would expose the HTF Support Zone ($3,254–$3,229).
For buyers, only a sustained move back above $3,344 and the 200MA would shift momentum, opening the path toward $3,364 and $3,386.
📌 Key Levels to Watch
Resistance:
$3,344
$3,364
$3,386
$3,406
Support:
$3,324
$3,304
$3,281
$3,254
$3,229
📌 Fundamental Focus – Friday, Aug 22
Today’s spotlight is on the Jackson Hole Symposium, with key speeches from Fed Chair Powell, FOMC members, and President Trump expected to drive volatility. Markets will be highly reactive to policy signals and geopolitical remarks.
⚠️ Friday Risk Warning: Expect higher volatility, potential intraday manipulations, and sharp position adjustments as markets head into the weekend close. Liquidity often thins in late Friday sessions, so manage exposure carefully and avoid holding unnecessary risk over the weekend.
It remains capped below both the 50MA (pink) and 200MA (green), which have flattened out, indicating a bearish or indecisive market structure.
If sellers gain momentum and break below $3,324, focus shifts toward the Secondary Support Zone ($3,304–$3,281). A clean break under $3,281 would expose the HTF Support Zone ($3,254–$3,229).
For buyers, only a sustained move back above $3,344 and the 200MA would shift momentum, opening the path toward $3,364 and $3,386.
📌 Key Levels to Watch
Resistance:
$3,344
$3,364
$3,386
$3,406
Support:
$3,324
$3,304
$3,281
$3,254
$3,229
📌 Fundamental Focus – Friday, Aug 22
Today’s spotlight is on the Jackson Hole Symposium, with key speeches from Fed Chair Powell, FOMC members, and President Trump expected to drive volatility. Markets will be highly reactive to policy signals and geopolitical remarks.
⚠️ Friday Risk Warning: Expect higher volatility, potential intraday manipulations, and sharp position adjustments as markets head into the weekend close. Liquidity often thins in late Friday sessions, so manage exposure carefully and avoid holding unnecessary risk over the weekend.
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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.