GOLD 11/07 – STRUCTURE REMAINS BULLISH, WATCH 3318 & 3340 REAC📰 Fundamental News
The world’s largest gold ETF, SPDR Gold Trust, increased its holdings by 1.44 tons, reaching 948.81 tons, a sign of rising institutional interest.
Market expectations of a rate cut in September are growing, but the pricing in futures markets is still incomplete.
Global risk sentiment remains cautious, making gold a preferred safe haven amid economic uncertainty.
📉 Technical Analysis
Gold has broken through the descending trendline, confirming bullish momentum and rejecting deep pullbacks during the Asian session.
A sharp fake-out move (liquidity grab) occurred around the 3284–3286 zone, after which the market rallied and formed a BOS (Break of Structure) and CHoCH confirmation on lower timeframes.
The current price action respects the Wyckoff accumulation model, and Wave (5) might be in its final stages as seen on M15–H1.
Liquidity zones are forming around key psychological levels: 3318–3319 and 3334–3340, where short-term corrective moves may happen before further bullish continuation.
🔍 Key Levels to Watch
Zone Type Price Range Notes
🟢 Buy Zone 3315 – 3318 Optimal Buy Limit (OBS + SSL Zone)
🛑 Stop Loss Below 3315.5 For aggressive buyers
🔵 Resistance 3334 – 3340 Potential reaction / pullback zone
🔴 Sell Zone 3348 – 3350 Scalp Sell area with SL at 3354
🟠 Major Sell 3362 – 3364 Institutional level – Week High zone
📊 Trading Scenarios
BUY SCENARIO – High Probability
Buy Limit: 3315 – 3318
SL: 3310 – 3315 (based on risk tolerance)
TP1: 3320
TP2: 3334
TP3: 3348 – 3350 (partial exit or scale-out)
SELL SCALP SCENARIO – Short-Term
Sell Zone: 3348 – 3350
SL: 3354
TP: 3344 - 3334 zone (quick pullback)
SELL HOLD SETUP
Sell Zone: 3362 – 3364 (Week High)
SL: 3368
TP: 3340 and trail further if momentum shifts
🧠 Note for Traders
Gold remains in a bullish structure, and as long as price holds above 3315, the bias remains to the upside. Watch for liquidity reactions at 3334 and 3340 for potential pullbacks. Avoid chasing price and wait for cleaner entries near liquidity zones.
