📊 Market Overview:
• Gold dropped sharply to a low of $3283 earlier today before rebounding strongly back to around $3312, supported by renewed buying interest.
• The recovery is fueled by risk-off sentiment amid ongoing trade negotiation uncertainty and a mild pullback in the U.S. Dollar Index.
• Central bank buying continues to underpin gold’s base, despite mild pressure from rising U.S. bond yields.
________________________________________
📉 Technical Analysis:
• Key Resistance: $3315 – $3335
• Nearest Support: $3280
• EMA 09: Price is trading above the 9-period EMA, signaling a short-term bullish trend.
• Candle pattern / Momentum: A strong bullish engulfing candle formed after bouncing from $3283 on the H1 chart. MACD is crossing upward, and RSI is approaching the 60 level, suggesting bullish momentum.
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📌 Outlook:
Gold may continue to recover in the short term if it holds above the $3300 level and successfully breaks through $3315 resistance. However, failure to break above this resistance could lead to a short-term pullback toward $3290–$3280.
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💡 Suggested Trading Strategy:
🔻 SELL XAU/USD at: $3315–3325
🎯 TP: $3295
❌ SL: $3330
🔺 BUY XAU/USD at: $3285–3295
🎯 TP: $3315
❌ SL: $3280
• Gold dropped sharply to a low of $3283 earlier today before rebounding strongly back to around $3312, supported by renewed buying interest.
• The recovery is fueled by risk-off sentiment amid ongoing trade negotiation uncertainty and a mild pullback in the U.S. Dollar Index.
• Central bank buying continues to underpin gold’s base, despite mild pressure from rising U.S. bond yields.
________________________________________
📉 Technical Analysis:
• Key Resistance: $3315 – $3335
• Nearest Support: $3280
• EMA 09: Price is trading above the 9-period EMA, signaling a short-term bullish trend.
• Candle pattern / Momentum: A strong bullish engulfing candle formed after bouncing from $3283 on the H1 chart. MACD is crossing upward, and RSI is approaching the 60 level, suggesting bullish momentum.
________________________________________
📌 Outlook:
Gold may continue to recover in the short term if it holds above the $3300 level and successfully breaks through $3315 resistance. However, failure to break above this resistance could lead to a short-term pullback toward $3290–$3280.
________________________________________
💡 Suggested Trading Strategy:
🔻 SELL XAU/USD at: $3315–3325
🎯 TP: $3295
❌ SL: $3330
🔺 BUY XAU/USD at: $3285–3295
🎯 TP: $3315
❌ SL: $3280
Trade active
Gold is trading around 3315, within the strong resistance zone of 3315–3330. Sellers are reacting clearly, and price may face a short-term pullback if it fails to break above 3330. Strategy: look to sell around 3315–3325, SL above 3332; or wait to buy near 3290 if support signals appear.
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💡 Technical breakdowns & market outlooks
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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.
📊 Forex | Gold | Crypto Market Insights & Signals
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
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.