📌 Gold at Key Resistance – Will the Bulls Hold?
🔸 Gold has been on a strong bullish rally, but it's now testing a major supply zone at $2,908 - $2,910.
🔸 The recent upside was fueled by inflation concerns, a weakening USD, and safe-haven demand.
🔸 However, with Fed speakers hinting at no early rate cuts, gold could face pressure.
🏦 Interest Rate Outlook & Dollar Strength
🔹 The Fed’s higher-for-longer stance remains a key headwind for gold.
🔹 If bond yields rise, gold could see profit-taking, leading to a potential correction.
🌎 Market Sentiment & Economic Data
🔸 Traders are eyeing the upcoming NFP report & Powell’s speech, which could trigger volatility.
🔸 If economic data remains strong, gold might struggle to maintain bullish momentum.
🔍 Technical Analysis (4H Timeframe)
🚀 Key Levels & Market Structure
🔹 Supply Zone: $2,908 - $2,910 (Strong resistance)
🔹 Support Levels:
🔸 $2,710 – First potential retracement level.
🔸 $2,521 – Major demand zone (high probability buy area).
🔄 Potential Bearish Reversal Setup
📌 Price is testing strong resistance, indicating a possible pullback.
📌 Rejection & weak bullish momentum suggest a shift in market structure.
📌 Bearish confirmation if price fails to break and hold above $2,910.
📊 Trade Plan
📉 Bearish Scenario
✅ Sell if price fails to break resistance → Target: $2,710 & $2,521
❌ Invalidated if price breaks & holds above $2,910
📈 Bullish Alternative
🔹 If price holds above $2,910, we could see a breakout towards new highs.
🔥 Final Thoughts:
Gold is at a critical decision point! Will we see a strong rejection, or is a breakout coming? Comment below! 📉👇
🔸 Gold has been on a strong bullish rally, but it's now testing a major supply zone at $2,908 - $2,910.
🔸 The recent upside was fueled by inflation concerns, a weakening USD, and safe-haven demand.
🔸 However, with Fed speakers hinting at no early rate cuts, gold could face pressure.
🏦 Interest Rate Outlook & Dollar Strength
🔹 The Fed’s higher-for-longer stance remains a key headwind for gold.
🔹 If bond yields rise, gold could see profit-taking, leading to a potential correction.
🌎 Market Sentiment & Economic Data
🔸 Traders are eyeing the upcoming NFP report & Powell’s speech, which could trigger volatility.
🔸 If economic data remains strong, gold might struggle to maintain bullish momentum.
🔍 Technical Analysis (4H Timeframe)
🚀 Key Levels & Market Structure
🔹 Supply Zone: $2,908 - $2,910 (Strong resistance)
🔹 Support Levels:
🔸 $2,710 – First potential retracement level.
🔸 $2,521 – Major demand zone (high probability buy area).
🔄 Potential Bearish Reversal Setup
📌 Price is testing strong resistance, indicating a possible pullback.
📌 Rejection & weak bullish momentum suggest a shift in market structure.
📌 Bearish confirmation if price fails to break and hold above $2,910.
📊 Trade Plan
📉 Bearish Scenario
✅ Sell if price fails to break resistance → Target: $2,710 & $2,521
❌ Invalidated if price breaks & holds above $2,910
📈 Bullish Alternative
🔹 If price holds above $2,910, we could see a breakout towards new highs.
🔥 Final Thoughts:
Gold is at a critical decision point! Will we see a strong rejection, or is a breakout coming? Comment below! 📉👇
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✅JOIN FREE SIGNALS t.me/frankfxforextrade
✅ MORE FREE SIGNALS t.me/frankfx223
✅FOR VIP DM: t.me/frankfx22
✅ICMARKETS frankfxx.com/icmarkets
✅ EXNESS frankfxx.com/exness
✅ DERIV frankfxx.com/deriv
✅ MORE FREE SIGNALS t.me/frankfx223
✅FOR VIP DM: t.me/frankfx22
✅ICMARKETS frankfxx.com/icmarkets
✅ EXNESS frankfxx.com/exness
✅ DERIV frankfxx.com/deriv
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.