📊 Technical Analysis
● A lower-high formed at $3 280 re-entered the red supply and slid back beneath the blue trend-line, converting last week’s “break-out” into a bull-trap.
● Price is compressing in a bear-flag whose base rests on $3 200; a 1 h close below it exposes the descending-channel floor/ horizontal support at $3 100.
💡 Fundamental Analysis
● FOMC minutes stressed rates may stay “restrictive for some time”, lifting 2-yr yields to 4.9 % and firming the USD, while the World Gold Council logged a 6-tonne ETF outflow on 17 May, signalling weaker investment demand.
✨ Summary
Sell rallies into 3 230-3 250; flag break targets 3 200 ➜ 3 100, risk capped above 3 280.
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● A lower-high formed at $3 280 re-entered the red supply and slid back beneath the blue trend-line, converting last week’s “break-out” into a bull-trap.
● Price is compressing in a bear-flag whose base rests on $3 200; a 1 h close below it exposes the descending-channel floor/ horizontal support at $3 100.
💡 Fundamental Analysis
● FOMC minutes stressed rates may stay “restrictive for some time”, lifting 2-yr yields to 4.9 % and firming the USD, while the World Gold Council logged a 6-tonne ETF outflow on 17 May, signalling weaker investment demand.
✨ Summary
Sell rallies into 3 230-3 250; flag break targets 3 200 ➜ 3 100, risk capped above 3 280.
-------------------
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Trade active
📊 Technical Analysis
● Gold keeps respecting the descending channel drawn from the May-7 high; every touch of the upper rail inside the 3 230-3 300 supply has been rejected, carving a sequence of lower-highs.
● Friday’s rebound stalled exactly at the blue former trend-line (now resistance) and is forming a bearish pennant above 3 200; a break of 3 200 opens an air-pocket to the channel floor near 3 100.
💡 Fundamental Analysis
● Fed governor Waller said policy easing “isn’t appropriate right now” while US services PMI hit a 12-month high, propelling 2-yr yields back toward 5 %, lifting the dollar and dimming bullion’s yield-less appeal.
✨ Summary
Fade 3 230-3 260; pennant break <3 200 targets 3 100, then 3 000. Invalidate on a close above 3 280.
-------------------
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Crypto signals in telegram
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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.