Good morning, everyone!
Due to the U.S. market closure on Friday, price movement remained relatively subdued, and the week concluded with modest gains. As of this morning, gold opened higher but has since pulled back, and the price remains in a consolidation phase.
Key technical levels for today:
Resistance: around 3350
Support: near 3321
Short-term traders may focus on range-bound strategies between these levels. If a breakout occurs, follow the trend accordingly:
If price breaks above and stabilizes above 3338, the market may shift its focus toward the 3400 psychological level;
If price drops below and holds under 3332, there’s potential for a retest of the 3260 support zone.
In terms of broader trend analysis, the MA20 and MA60 on the daily chart should be watched closely, as they currently serve as key dynamic resistance and support levels.
Lastly, stay alert to any developments related to trade tariffs, as such news may significantly impact market sentiment and gold price direction.
Due to the U.S. market closure on Friday, price movement remained relatively subdued, and the week concluded with modest gains. As of this morning, gold opened higher but has since pulled back, and the price remains in a consolidation phase.
Key technical levels for today:
Resistance: around 3350
Support: near 3321
Short-term traders may focus on range-bound strategies between these levels. If a breakout occurs, follow the trend accordingly:
If price breaks above and stabilizes above 3338, the market may shift its focus toward the 3400 psychological level;
If price drops below and holds under 3332, there’s potential for a retest of the 3260 support zone.
In terms of broader trend analysis, the MA20 and MA60 on the daily chart should be watched closely, as they currently serve as key dynamic resistance and support levels.
Lastly, stay alert to any developments related to trade tariffs, as such news may significantly impact market sentiment and gold price direction.
Trade active
After reaching the target support zone, gold has rebounded and is now trading near the 3321 resistance level. Pay close attention to the 3332–3338 zone, as a confirmed breakout or rejection in this area will likely determine the next short-term direction.
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I’ve created a channel where I’ll be posting market analysis and trading signals.
Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
t.me/+h6RM5RdP6X9hNmI8
Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
t.me/+h6RM5RdP6X9hNmI8
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.