💥 Post-market surprise news shook the gold market:
About a week ago, Trump publicly hinted at “considering firing” Powell. But just after today’s market close, he suddenly walked it back, saying he “never thought about it.”
At the same time, he dropped signals of easing trade tensions — this combo crushed gold’s safe-haven sentiment, causing a gap-down open that nearly broke below 3300!
🗣 Looks like Trump might be happily trading gold himself! 😂
Now, gold has recovered most of that drop and filled the gap, so this round of quick rebound profits is mostly over.
📉 What’s next? Strategy outlook:
🔺 Short-term resistance to watch:
Key level at 3400
If broken, 3420–3440 is a strong short-entry zone
If price pushes further, consider scaling into shorts between $3440–3540, targeting $3268
🔻 Short-term support:
A gap still exists around 3313
If price fails to break above 3440, apart from shorting near 3420, watch for buying opportunities near 3300
📉 Mid-term view:
If gold climbs past 3440 again this week and holds, expect a mid-term correction
Mid-term targets: 3190–3128
A drop below 3000 is not out of the question — the rally from 2000 to 3500 is simply too steep!
🧭 In summary: The rebound opportunity is nearly over. Don’t chase blindly at these highs — the market is entering a highly volatile decision zone. We could be looking at bull traps followed by a meaningful correction.
🎯 Long positions — manage your rhythm!
If price shows signs of exhaustion or stalls in the 3400–3440 zone,
🔔 Take profits promptly to avoid giving gains back!
If a clear breakout fails, it’s time to switch back to shorts and follow the trend.
About a week ago, Trump publicly hinted at “considering firing” Powell. But just after today’s market close, he suddenly walked it back, saying he “never thought about it.”
At the same time, he dropped signals of easing trade tensions — this combo crushed gold’s safe-haven sentiment, causing a gap-down open that nearly broke below 3300!
🗣 Looks like Trump might be happily trading gold himself! 😂
Now, gold has recovered most of that drop and filled the gap, so this round of quick rebound profits is mostly over.
📉 What’s next? Strategy outlook:
🔺 Short-term resistance to watch:
Key level at 3400
If broken, 3420–3440 is a strong short-entry zone
If price pushes further, consider scaling into shorts between $3440–3540, targeting $3268
🔻 Short-term support:
A gap still exists around 3313
If price fails to break above 3440, apart from shorting near 3420, watch for buying opportunities near 3300
📉 Mid-term view:
If gold climbs past 3440 again this week and holds, expect a mid-term correction
Mid-term targets: 3190–3128
A drop below 3000 is not out of the question — the rally from 2000 to 3500 is simply too steep!
🧭 In summary: The rebound opportunity is nearly over. Don’t chase blindly at these highs — the market is entering a highly volatile decision zone. We could be looking at bull traps followed by a meaningful correction.
🎯 Long positions — manage your rhythm!
If price shows signs of exhaustion or stalls in the 3400–3440 zone,
🔔 Take profits promptly to avoid giving gains back!
If a clear breakout fails, it’s time to switch back to shorts and follow the trend.
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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.
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.