📈 Gold Trend Analysis – Strong Uptrend but Signs of Slowdown
Gold continued to set a new peak for the week when closing the day above 3430 – confirming that the uptrend is still dominant. However, buying power is starting to slow down as the market formed a fairly wide range, around 50 prices in today's session.
Profit-taking pressure at high prices can create a short-term correction, opening up two-way trading opportunities for flexible investors.
🔑 Important technical levels (Key Levels):
🔻 Resistance zone & Sell zone:
3445: Price rejection zone – can consider selling if price fails to break through.
3463: Strong Sell zone – expect increased supply here.
🎯 Sell target:
3405: Nearest support, target for short-term sell orders.
🟢 Buy Setup:
3402: Breakout zone in US session – if price breaks strongly through this support with good volume, consider buying on the next uptrend.
Gold continued to set a new peak for the week when closing the day above 3430 – confirming that the uptrend is still dominant. However, buying power is starting to slow down as the market formed a fairly wide range, around 50 prices in today's session.
Profit-taking pressure at high prices can create a short-term correction, opening up two-way trading opportunities for flexible investors.
🔑 Important technical levels (Key Levels):
🔻 Resistance zone & Sell zone:
3445: Price rejection zone – can consider selling if price fails to break through.
3463: Strong Sell zone – expect increased supply here.
🎯 Sell target:
3405: Nearest support, target for short-term sell orders.
🟢 Buy Setup:
3402: Breakout zone in US session – if price breaks strongly through this support with good volume, consider buying on the next uptrend.
Trade active
Gold price remains depressed as US-Japan deal optimism undermines safe-haven demandGold price rebounds slightly from the daily low touched during the early part of the European session, though it lacks follow-through and remains in the red below the highest level since June 16, touched this Wednesday. The optimism over a US-Japan trade deal remains supportive of the upbeat market mood.
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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.
JOIN OUR FREE TELEGRAM GROUP t.me/+7rqP7ECMjpUxMzBl
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
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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.