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Gold Futures (Feb 2024)

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MGC1! Doesn't seem like Trump has enough to fire Powell. With China trade talks starting this weekend and no rate cut promises until September or later, we might remain bearish until early next week. Trade deadline is Aug 1st and Fed meets July 30th, so I'm expecting a lot of volatility over the next week

MGC1! CMP 3373 expecting it too slide a bit, It could trigger bearish move from here..

MGC1! Trump is currently meeting with the Fed to push for rate cuts. Watch for signs of potential bullish breakout around Asia open

GC1!
Bearish Setup (favorable)
If price rejects again at 3377–3378, consider short entry with:

Target: 3371.5 > 3368 > 3364.8

Stop: Above 3380 (tight risk window)

Confluence: Order block + premium zone + LH structure.

Invalidation
Clean break and acceptance above 3381 would invalidate bearish bias short term and open path to 3385+.

MGC1! We got a rejection from this bearish trendline resistance.

If we don't have a reversal from this JAN 2025 TL, we could be looking into a price move towards the mid line of the bearish trendline.

I'm still holding my bullish bias, but I do want price to stay above the Jan 2025 TL.
Snapshot

MGC1! EU and China are having a trade summit, which could explain why we're still looking bearish. I am keeping an eye on the press conference they are currently having