On the daily timeframe (D1), gold is still stuck in a wide sideway range between 3,105 and 3,451, which has persisted since early April. However, recent price action suggests the structure is gradually tilting toward a bearish bias.
The rebounds from the current range bottom are weakening, with each successive peak failing to surpass the previous one. Moreover, the EMA 34 is being tested repeatedly — indicating that buyers are losing momentum.
If the price breaks below the support area around 3,258–3,260 (which aligns with the EMA 34), the next target could be the 3,105 zone. And if this level also fails to hold, a deeper drop toward 2,976 may be triggered.
The rebounds from the current range bottom are weakening, with each successive peak failing to surpass the previous one. Moreover, the EMA 34 is being tested repeatedly — indicating that buyers are losing momentum.
If the price breaks below the support area around 3,258–3,260 (which aligns with the EMA 34), the next target could be the 3,105 zone. And if this level also fails to hold, a deeper drop toward 2,976 may be triggered.
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Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
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.