🔻 Price Action Summary:
Gold is showing signs of weakness as it fails to maintain support levels amid a stronger USD and rising bond yields. Recent rejections at key resistance zones indicate a potential for further downside.
📉 Technical Analysis:
Trend: Short-term bearish below $2,370
Resistance Levels: $2,370 – $2,385
Support Levels: $2,320 → $2,300 → $2,280
Indicators:
RSI trending below 50 → bearish momentum
MACD crossing below signal line → selling pressure increasing
Price below 50 EMA → confirms short-term bearish bias
📊 Chart Pattern:
Potential Head and Shoulders or Double Top pattern formation near $2,400
Breakdown below $2,320 neckline could open the door for deeper declines
📌 Fundamental Drivers:
Hawkish Fed stance & rate hike fears support USD
Reduced safe-haven demand as geopolitical tensions ease
Rising Treasury yields weigh on non-yielding assets like gold
🚨 Trade Idea:
Sell below: $2,320
Target 1: $2,300
Target 2: $2,280
Stop-loss: $2,340
⚠️ Risk Note: Always confirm signals with volume and watch for unexpected macro events that may affect gold demand.
Gold is showing signs of weakness as it fails to maintain support levels amid a stronger USD and rising bond yields. Recent rejections at key resistance zones indicate a potential for further downside.
📉 Technical Analysis:
Trend: Short-term bearish below $2,370
Resistance Levels: $2,370 – $2,385
Support Levels: $2,320 → $2,300 → $2,280
Indicators:
RSI trending below 50 → bearish momentum
MACD crossing below signal line → selling pressure increasing
Price below 50 EMA → confirms short-term bearish bias
📊 Chart Pattern:
Potential Head and Shoulders or Double Top pattern formation near $2,400
Breakdown below $2,320 neckline could open the door for deeper declines
📌 Fundamental Drivers:
Hawkish Fed stance & rate hike fears support USD
Reduced safe-haven demand as geopolitical tensions ease
Rising Treasury yields weigh on non-yielding assets like gold
🚨 Trade Idea:
Sell below: $2,320
Target 1: $2,300
Target 2: $2,280
Stop-loss: $2,340
⚠️ Risk Note: Always confirm signals with volume and watch for unexpected macro events that may affect gold demand.
Note
🔻 Price Action Summary:Gold is showing signs of weakness as it fails to maintain support levels amid a stronger USD and rising bond yields. Recent rejections at key resistance zones indicate a potential for further downside.
📉 Technical Analysis:
Trend: Short-term bearish below $3,370
Resistance Levels: $3,370 – $3,385
Support Levels: $3,320 → $3,300 → $3,280
Indicators:
RSI trending below 50 → bearish momentum
MACD crossing below signal line → selling pressure increasing
Price below 50 EMA → confirms short-term bearish bias
📊 Chart Pattern:
Potential Head and Shoulders or Double Top pattern formation near $3,400
Breakdown below $3,320 neckline could open the door for deeper declines
📌 Fundamental Drivers:
Hawkish Fed stance & rate hike fears support USD
Reduced safe-haven demand as geopolitical tensions ease
Rising Treasury yields weigh on non-yielding assets like gold
🚨 Trade Idea:
Sell below: $3,320
Target 1: $3,300
Target 2: $3,280
Stop-loss: $3,340
⚠️ Risk Note: Always confirm signals with volume and watch for unexpected macro events that may affect gold demand.
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.
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.