Good morning, everyone!
At the end of last week, renewed trade tariff concerns reignited risk-off sentiment, prompting a strong rally in gold after multiple tests of the 3321 support level. The breakout was largely driven by fundamental news momentum.
On the daily (1D) chart, the price has fully reclaimed the MA60 and broken above the MA20, signaling an emerging bullish trend. The key focus for this week includes:
Monitoring whether MA20 holds as support on any pullbacks
Watching the 3400 resistance zone for signs of exhaustion or continuation
From a 30-minute technical perspective, gold is currently trading within a short-term resistance band of 3372–3378, with a stronger resistance zone between 3387–3392. Key support levels are:
Primary support: around 3358
Secondary support: 3343–3332 zone
Given the recent increase in volatility due to geopolitical and macroeconomic headlines, flexible intraday trading is recommended within the 3378–3343 range, while broader trades can be framed around the 3400–3325 zone, still favoring a sell-high, buy-low approach.
Lastly, as we move into the mid-year period, I may have more personal commitments, and strategy updates could be less frequent. I appreciate your understanding, and as always, feel free to leave a message if you have any questions or need trading guidance—I’ll respond as soon as I can.
At the end of last week, renewed trade tariff concerns reignited risk-off sentiment, prompting a strong rally in gold after multiple tests of the 3321 support level. The breakout was largely driven by fundamental news momentum.
On the daily (1D) chart, the price has fully reclaimed the MA60 and broken above the MA20, signaling an emerging bullish trend. The key focus for this week includes:
Monitoring whether MA20 holds as support on any pullbacks
Watching the 3400 resistance zone for signs of exhaustion or continuation
From a 30-minute technical perspective, gold is currently trading within a short-term resistance band of 3372–3378, with a stronger resistance zone between 3387–3392. Key support levels are:
Primary support: around 3358
Secondary support: 3343–3332 zone
Given the recent increase in volatility due to geopolitical and macroeconomic headlines, flexible intraday trading is recommended within the 3378–3343 range, while broader trades can be framed around the 3400–3325 zone, still favoring a sell-high, buy-low approach.
Lastly, as we move into the mid-year period, I may have more personal commitments, and strategy updates could be less frequent. I appreciate your understanding, and as always, feel free to leave a message if you have any questions or need trading guidance—I’ll respond as soon as I can.
Trade active
Gold initially tested the 3372–3378 resistance area today and then pulled back to the 3358 support level, followed by a rebound. However, the attempt to break through resistance failed, and prices retreated again. Overall, today’s trades were well-executed with decent profits.Currently, there is some support around 3348, but the key support remains at the 3343–3332 zone. If the price gets effective support in this area or falls below it quickly, small long positions can be considered.But we must pay attention to the rhythm. Before the bottom is formed, the price is at a short-term high and there is dense resistance, so bulls should not be greedy.
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Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
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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.
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.