#XAUUSD (Gold) Analysis – May 5, 2025
Gold is currently trading around $3310, facing strong resistance near the )$3320–$3330) zone after a sharp upward move. I am supporting a SELL bias, anticipating a potential rejection from resistance and a move to the downside.
📈Key Resistance:$3330 A key level where I expect sellers to step in.
📈Major Resistance Zone: $3330–$3340 – If broken, further upside is possible, but this zone remains a strong barrier for now.
📉Bearish Targets:
📉Target 1: $3290 Initial support and short-term profit zone.
📉Target 2: $3264 Deeper pullback level.
📉Target 3: $3242 Final target before reaching major demand.
📉Support Area: $3220 $3210
A high-probability demand zone where buyers may defend the level and sellers could take profit.
📊Outlook: I remain bearish as long as price holds below $3330. A clear rejection from this area would strengthen the bearish case. A break above $3340 would invalidate the setup and shift focus to the bullish side.
Follow Gold Global Club for more high-quality weekly insights. Drop your thoughts in the comment bullish or bearish?
Gold is currently trading around $3310, facing strong resistance near the )$3320–$3330) zone after a sharp upward move. I am supporting a SELL bias, anticipating a potential rejection from resistance and a move to the downside.
📈Key Resistance:$3330 A key level where I expect sellers to step in.
📈Major Resistance Zone: $3330–$3340 – If broken, further upside is possible, but this zone remains a strong barrier for now.
📉Bearish Targets:
📉Target 1: $3290 Initial support and short-term profit zone.
📉Target 2: $3264 Deeper pullback level.
📉Target 3: $3242 Final target before reaching major demand.
📉Support Area: $3220 $3210
A high-probability demand zone where buyers may defend the level and sellers could take profit.
📊Outlook: I remain bearish as long as price holds below $3330. A clear rejection from this area would strengthen the bearish case. A break above $3340 would invalidate the setup and shift focus to the bullish side.
Follow Gold Global Club for more high-quality weekly insights. Drop your thoughts in the comment bullish or bearish?
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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.