#XAUUSD / #GOLD
Gold is retesting a major resistance zone within a clear downtrend — and the pressure is building.
After a sharp 3% drop, gold is stabilizing near $3,200, as markets brace for the upcoming US CPI data, which could spark a major move.
Optimism over US-China trade talks and dollar profit-taking is providing temporary support… but how long will it hold?
Key Resistance: 3269 - 3284
Support Levels: 3246 - 3200 - 3167
If inflation data brings no surprises, expect a potential false breakout near 3260–3270, followed by heavy selling back toward 3200 and possibly 3150.
Trend Bias: Bearish — and the perfect sell setup may be right around the corner.
Gold is retesting a major resistance zone within a clear downtrend — and the pressure is building.
After a sharp 3% drop, gold is stabilizing near $3,200, as markets brace for the upcoming US CPI data, which could spark a major move.
Optimism over US-China trade talks and dollar profit-taking is providing temporary support… but how long will it hold?
Key Resistance: 3269 - 3284
Support Levels: 3246 - 3200 - 3167
If inflation data brings no surprises, expect a potential false breakout near 3260–3270, followed by heavy selling back toward 3200 and possibly 3150.
Trend Bias: Bearish — and the perfect sell setup may be right around the corner.
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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.
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.