Gold’s upside seems limited given overbought conditionsGold appears to be showing signs of finally cracking after an impressive run higher, with the excitement surrounding its rally potentially approaching a crescendo. The precious metal experienced a sharp intraday reversal on 22 April, a decline that continued into 23 April. Since the recent uptrend began in mid-March, gold has consistently found support at its 10-day exponential moving average (EMA).
For now, gold continues to hold just above this key support level; a break below the 10-day EMA could signal a heightened risk of further declines, potentially targeting $3,280 per troy ounce.
Gold remains extremely overbought on the weekly chart, trading above the upper Bollinger Band, with the relative strength index (RSI) above 80. This suggests that gold could be due for a sideways consolidation or pullback towards the 10-week moving average at $3,100.
Gold also remains overbought on the monthly chart, trading above the upper Bollinger band and with an RSI above 85. In this scenario, a break below $2,900 may lead to a decline towards the 10-month moving average of $2,800.
It is not often that an asset class trades at such extreme levels, and this suggests that gold may be overdue for a period of consolidation, either by trading sideways and marking time or by pulling back to retest some of the moving averages situated at lower levels. It continues to indicate that overall gold’s upside may be limited.
Written by Michael J Kramer, founder of Mott Capital Management
Disclaimer: CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only and does not take into account your personal circumstances or objectives. Nothing in this material is (or should considered to be) financial, investment or other advice on which reliance should be placed.
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XAUUSD trade ideas
Topping Out or Temporary Pullback?Market Analysis (Daily Chart View):
The Daily chart indicates that price has declined after reaching a record all-time high and reacting from the upper boundary of an Ascending Broadening Wedge. Both the Weekly and Monthly charts remain in extreme overbought conditions, suggesting caution. Additionally, the upward trend across all three timeframes—Monthly, Weekly, and Daily—is unusually steep and unsustainable.
Such steep trends often lead to parabolic spikes, typically seen near the end of a trend, which is evident from the long wicks on the recent Weekly and Monthly candles. Based on the structure of the Ascending Broadening Wedge, the projected price target is 2565.00.
GOLD RISKY LONG|
✅GOLD will soon retest a key support level of 3260$
So I think that the pair will make a rebound
And go up to retest the supply level above at 3323$
LONG🚀
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Gold (XAU/USD) – Bearish Pennant Breakdown SetupGold is forming a bearish pennant on the 4H chart, suggesting a potential continuation of the prior bearish leg. A confirmed break below the $3,275 support area may trigger further downside toward the key targets.
Fundamentally, gold faces pressure from a firmer USD and rising real yields, which could accelerate selling momentum.
Pattern: Bearish Pennant
Sell Entry: Below $3,275
Targets:
* Target 1 – $3,260
* Target 2 – $3,240
* Target 3 – $3,200
Bias: Bearish
Trade Status: Setup forming – trade inactive until confirmed breakdown
Disclaimer: This is not financial advice. Please conduct your own research and manage risk accordingly.
Support: If you found this helpful, like and follow for more trade ideas!
Gold in Focus: Tight Range Before Major US Data 🌐 Gold in Focus: Tight Range Before Major US Data – Time to Prepare for the Storm?
Gold (XAU/USD) is currently trapped within a narrow consolidation zone, with traders across global markets awaiting critical economic events in the second half of this week. The bounce from the 3290–3270 support zones confirms strong buying interest, yet bulls seem cautious ahead of the ADP employment report today and the all-important Nonfarm Payrolls (NFP) on Friday.
Despite dovish signs from recent labor data and declining US bond yields, gold has not been able to regain strong upward momentum. This hesitance is attributed to mixed market sentiment fueled by ongoing US-China trade negotiations, potential interest rate outlook shifts from the Fed, and end-of-month positioning across major asset classes.
💼 What’s happening behind the scenes?
US 10Y yields dropped, signaling weaker inflation outlooks — usually bullish for gold.
DXY remains fragile but still attracts safe-haven inflows amid global political tensions.
Investors are cautious ahead of back-to-back economic events and might delay large trades until Friday.
With a bank holiday looming in Asia and Europe tomorrow, liquidity could tighten and amplify volatility. Gold might continue trading in a compressed range between 3274–3357 until NFP injects a fresh directional impulse.
🔍 Technical Roadmap:
🔺 Resistance Levels to Monitor:
3328
3336
3352
3357
3366
🔻 Support Levels to Watch:
3305
3292
3274
📌 Trade Strategy (30m–1H timeframe bias)
🔵 BUY ZONE A
📍 Entry: 3292 – 3290
🎯 SL: 3287
🎯 TP: 3295 → 3300 → 3304 → 3308 → 3315 → 3320
🔵 BUY ZONE B
📍 Entry: 3275 – 3273
🎯 SL: 3268
🎯 TP: 3280 → 3284 → 3286 → 3290 → 3300
🔴 SELL ZONE A
📍 Entry: 3350 – 3352
🎯 SL: 3356
🎯 TP: 3345 → 3340 → 3336 → 3332 → 3320
🔴 SELL ZONE B
📍 Entry: 3365 – 3367
🎯 SL: 3371
🎯 TP: 3361 → 3357 → 3352 → 3347 → 3340
📣 Final Thoughts:
We are in the "calm before the storm" phase. Price is coiling in tight ranges with declining volume and momentum. Today's ADP report could trigger intraday volatility, but major players may still remain on the sidelines until Friday's NFP.
As it’s also the last day of the month, be alert for liquidity grabs and potential stop hunts. Stick to your risk management plan and avoid revenge trades in volatile setups.
🛡️ Stay patient. Trade smart. Let the market reveal the direction.
Gold prices are expected to break upwardGold prices are expected to break upward
As shown in Figure 4h:
The rising channel, sideways channel and falling channel of gold prices form a triangular oscillation pattern
At present, the average price of triangular oscillation converges around 3320
I think the gold price is likely to break upward and return to the high of 3400+ again, and form an M top with the previous high near 3500, forming a double top structure.
Focus on the suppression near 3330-3340.
Once an effective breakthrough is formed, continue to follow up and do more.
In fact, we have arranged to do more in the 3310-3320 range and have been holding it, with a stop loss set at 3288-3295.
Today is April 30th, and the Asian market is about to enter the closed stage.
We need to pay attention to the chain changes brought by the Asian market.
Due to the May Day holiday, the Asian market is closed for 4 days, and the Asian market is currently the main purchasing power of gold prices. Will there be a superposition of risk aversion, or a direct squeeze?
This will inevitably bring some uncertainty.
Today's strategy:
Buy around 3300-3310
Stop loss: 3288-3295
Target: 3340-3360-3400
Hold firmly
Gold Intraday Trading Plan 4/30/2025Yesterday I expected gold to resume bullish trend. However, it faced a strong resistance at 3350 and dropped all the way to 3300. Currently it is stuck in between these two levels.
As today is month end, there will be big fluctuations. I will not rush into any trade. I will trade break out today.
If 3350 is broken, I will buy towards 3400.
If the trend line is broken, I will sell toward 3270, or even 3230.
Potential HSNot confirmed yet but I'm jumping in anyways. I bought some puts of GLD for May 23 strike 304. My SL triggers if the price breaks up the resistance shown and closes above in the daily timeframe. Might be some turbulence, bulls will try to push the price higher. too much noise in the political arena, but Gold is overbought and needs a healthy correction.
Risk aversion eases, gold continues to fluctuateSpot gold prices (XAU/USD) fluctuated and fell, approaching the $3,300 mark, continuing the weak trend of the previous trading day.
From the daily chart, gold prices have fallen from their historical highs and are currently approaching the 38.2% Fibonacci retracement level (US$3,300-3,290). The key support level below is concentrated in the $3,265-3,260 range, which is also the previous consolidation range. If it falls below, it will open up the space for a 50% retracement level (US$3,225) or even $3,200.
In terms of technical indicators, the MACD indicator shows signs of a dead cross, and the green kinetic energy column expands moderately, indicating that short-term bears still have the initiative; the RSI indicator is still oscillating near the 50 axis, and has not yet shown extreme oversold, indicating that the downside space may be limited. Once the price rebounds, the initial resistance above is seen at $3,348-3,353.
After the breakthrough, it is expected to re-challenge the $3,400 mark, and even attack $3,425-3,427.
If the US PCE inflation and non-farm data weaken this week, it will further support the re-entry of gold bulls.
Gold short-term bullish trend remains unchanged
I don't want to say more nonsense, just give the signal directly, after all, everyone only looks at the results, don't you think so, dear trader?
Gold
Buy around 3298, stop loss 3278, target 3310-3318
Hello traders, if you have better ideas and suggestions, welcome to leave a message below, I will be very happy
“Gold Analysis: Breakout Achieved, What’s Next?”“Last week’s analysis played out perfectly with gold filling the gap and closing strongly at 3319$.
Looking ahead, holding above 3280$ could lead to further upside targets at 3369$ and 3408$.
However, a break below 3260$ may trigger a deeper correction toward 3245$.
Stay tuned for live updates and future setups.
Your support and feedback are highly appreciated!”
4.25 gold short-term operation technical analysis!Spot gold suddenly fell sharply during the Asian session on Friday (April 25). At the end of the session, the current gold price was around $3,307/ounce, a plunge of more than $40 during the day.
Gold prices turned lower on Friday as hopes of a trade deal between China and the United States weakened safe-haven assets. The positive risk tone weakened the demand for safe-haven assets. In addition, optimistic US macroeconomic data on Thursday supported the dollar, which also hit gold prices.
Cleveland Fed President Hammack made it clear in an interview on Thursday that the Federal Reserve has basically ruled out the possibility of a rate cut in May. But she also released key information that if there is clear evidence of the direction of the economy, there is room for policy action in June.
Gold prices are currently supported near the $3,300/ounce mark, which is also the 38.2% Fibonacci retracement level of gold prices from this month's low (around $2,950/ounce) The latest round of gains is located.
If gold price falls below the $3300/oz mark, the next support for gold price is the weekly low near the $3260/oz area; if it falls below the above area, gold price may accelerate its decline and fall to the 50% retracement level (i.e. the area near $3225/oz) and finally fall to the $3200/oz mark. Some follow-up selling will indicate that gold has peaked and turn the short-term bias in favor of bearish traders.
Gold price resistance is around the $3368-3370/oz area, which should be a key level now. If it breaks through the above area, gold price may return to the $3400/oz mark. The subsequent rise may push gold price further to the $3425-3427/oz barrier. Once this barrier is overcome, bulls may retry to conquer the psychological $3500/oz mark.
GOLD SENDS CLEAR BULLISH SIGNALS|LONG
GOLD SIGNAL
Trade Direction: long
Entry Level: 3,299.27
Target Level: 3,358.08
Stop Loss: 3,259.94
RISK PROFILE
Risk level: medium
Suggested risk: 1%
Timeframe: 1h
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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GOLD Trade Plan 23/04/2025Dear Traders,
after Deep Correction Today,The price has the potential to return above 3400 from two zones: the first zone is 3290 and the second is 3220. We have to wait for the New York session to see from which zone the reversal will happen."
If you enjoyed this forecast, please show your support with a like and comment. Your feedback is what drives me to keep creating valuable content."
Regards,
Alireza
Early Asian session. Latest market analysisIn early Asian session, spot gold rebounded slightly and is currently trading around $3,345/oz, supported by bargain hunting. The U.S. session continued its trend of retreating from record highs, falling nearly 3%, hitting a low of $3,260.08/oz and closing at $3,288.18/oz.
People familiar with the matter revealed that the Trump administration is considering reducing tariffs on imports from Asian powers, adding that any action would not be unilateral.
Quaid Analysis:
People are very relieved about the possibility of negotiations between major powers, and we are seeing this trend have a significant impact on the market.
Driven by central bank buying, tariff war concerns and strong investment demand, gold prices have risen by more than 26% since the beginning of 2025. A large number of long orders are facing profit-taking needs, and investors need to beware of the risk of further correction in gold prices.
From a technical perspective, gold prices hit $3,500, soared before this level, and then reversed sharply, which increases the risk of further correction in the short term.
The preliminary monthly rate of durable goods orders in the United States in March and the number of initial jobless claims in the United States for the week ending April 19 will be released on the Asian trading day. Investors need to pay attention to them. In addition, they need to continue to pay attention to the relevant news on the international trade situation and the geopolitical situation.
Action suggestions:
Go long at 3345, stop loss at 3340, watch 33380
If Quaid's analysis can help traders, then Quaid will be very happy.