📊 Technical Analysis
● Price is compressing in a descending wedge at the channel floor (3 343-3 350). Repeated long-tailed rejections hint at seller exhaustion while RSI makes higher lows, flagging hidden strength.
● A 30 min close above the wedge roof (≈ 3 357) should trigger a measured move to the intra-channel resistance band at 3 371, then the prior pivot at 3 383.
💡 Fundamental Analysis
● Thursday’s softer US Philly Fed index and a slip in 2-yr real yields cooled the dollar, reviving bullion bids; meanwhile Chinese customs data show May gold imports up 18 % m/m, underscoring physical demand.
✨ Summary
Buy 3 345-3 355; wedge breakout >3 357 targets 3 371 ➜ 3 383. Long view void on a 30 min close below 3 335.
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● Price is compressing in a descending wedge at the channel floor (3 343-3 350). Repeated long-tailed rejections hint at seller exhaustion while RSI makes higher lows, flagging hidden strength.
● A 30 min close above the wedge roof (≈ 3 357) should trigger a measured move to the intra-channel resistance band at 3 371, then the prior pivot at 3 383.
💡 Fundamental Analysis
● Thursday’s softer US Philly Fed index and a slip in 2-yr real yields cooled the dollar, reviving bullion bids; meanwhile Chinese customs data show May gold imports up 18 % m/m, underscoring physical demand.
✨ Summary
Buy 3 345-3 355; wedge breakout >3 357 targets 3 371 ➜ 3 383. Long view void on a 30 min close below 3 335.
-------------------
Share your opinion in the comments and support the idea with a like. Thanks for your support!
Trade closed: target reached
GOLD came out of the wedge, successfully reached our target and returned to the channel.
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🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
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.
90% accuracy in telegram
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
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.