GC1! Price lifted through the 3431.5 ceiling with solid delta and follow-through: • Large green bubbles (aggressive buys) pushed through previous passive ask walls. • Liquidity at 3431–3431.7 got absorbed cleanly. • Next supply layer: 3433.5 and especially 3435.0 (thick COB), then 3437–3438 as potential exhaustion zones.
With increasing signs of a potential rate-cut by September, we're looking bullish for the long-term. I think the market is slowly going to start pricing that in, so expect us to climb. CPI data is coming in next Tuesday. If that's favorable, we're going to breakout past the 3500 current ATH. If not, we're likely going to be stuck within the 3500-3350 range until the end of the month. China and India trade deals are also key events here to keep an eye out for. Bullish bias overall because of the increased rate cut probability, but keeping an eye out for impulses off of news.