Gold is holding just above rising trendline and 50-day SMA support (~$3,175), but the rebound has been tepid so far:
📉 Price action: Small-bodied candles reflect indecision
📊 RSI stuck near 50, suggesting a lack of directional momentum
📉 MACD still trending lower, though starting to flatten
📍Support:
Rising trendline and 50-day SMA: $3,175–$3,180
Below that: $3,100 (psychological + former resistance)
📍Resistance:
Initial resistance near $3,300
Heavier resistance back at $3,400+
⚠️ Big picture: The longer gold churns sideways near trendline support, the more vulnerable it becomes. Bulls need a strong move above $3,300 to reassert control.
-MW
📉 Price action: Small-bodied candles reflect indecision
📊 RSI stuck near 50, suggesting a lack of directional momentum
📉 MACD still trending lower, though starting to flatten
📍Support:
Rising trendline and 50-day SMA: $3,175–$3,180
Below that: $3,100 (psychological + former resistance)
📍Resistance:
Initial resistance near $3,300
Heavier resistance back at $3,400+
⚠️ Big picture: The longer gold churns sideways near trendline support, the more vulnerable it becomes. Bulls need a strong move above $3,300 to reassert control.
-MW
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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.