📊 Market Overview (As of June 2, 2025 – 11:04 UTC)
Current Price: $3,348.120
Change: -0.580 (-0.02%)
Volume: 2.7K ticks
EMA (9): 3,347.909 (Price is currently slightly above EMA – showing minor bullish bias)
🧠 Technical Analysis
✅ Trend Direction:
The market has reversed from a bearish consolidation and broken out sharply to the upside.
Strong bullish momentum started in early June (around June 1 midnight UTC), breaking multiple resistance zones.
🟩 Support Zones (Green Boxes):
Key levels of past accumulation/consolidation (strong support):
$3,290 – $3,300
$3,305 – $3,310
$3,320 – $3,330
These zones were tested multiple times in the past and then held during the recent bullish breakout.
📈 EMA Analysis:
Price is hovering near the 9 EMA, indicating a cool-off/consolidation phase after the sharp upward rally.
The EMA is acting as dynamic support; price action hovering just above it suggests bullish structure remains intact unless a strong breakdown occurs.
🔍 Candlestick Behavior:
The current cluster of candles shows sideways movement (small-bodied candles), indicating:
Market indecision
Possible continuation (flag/pennant formation)
⚠️ Important Observations:
Volume Spike During Breakout: Notable increase in volume during the sharp bullish move (just after June 1 midnight) confirms strength in breakout.
Price Rejection Near $3,350: Price made a high around $3,349.420 and is now consolidating just below that. This could be a short-term resistance.
No Immediate Bearish Reversal Patterns visible yet. As long as price stays above $3,330–$3,335 zone, bulls remain in control.
📌 Trading Strategy Suggestions (Not Financial Advice)
🔹 For Buyers (Bullish Bias):
Look for buy entries if price pulls back into the $3,335–$3,340 zone with bullish confirmation.
Targets: $3,350, $3,360+
Stop Loss: Below $3,330
🔸 For Sellers (Cautious Bearish Setup):
Only consider short entries if price breaks below $3,330 with volume and closes under that zone.
Target: $3,320, $3,310
Stop Loss: Above $3,340
Would you like a trade idea marked on this chart or a trading plan for the New York session?
Current Price: $3,348.120
Change: -0.580 (-0.02%)
Volume: 2.7K ticks
EMA (9): 3,347.909 (Price is currently slightly above EMA – showing minor bullish bias)
🧠 Technical Analysis
✅ Trend Direction:
The market has reversed from a bearish consolidation and broken out sharply to the upside.
Strong bullish momentum started in early June (around June 1 midnight UTC), breaking multiple resistance zones.
🟩 Support Zones (Green Boxes):
Key levels of past accumulation/consolidation (strong support):
$3,290 – $3,300
$3,305 – $3,310
$3,320 – $3,330
These zones were tested multiple times in the past and then held during the recent bullish breakout.
📈 EMA Analysis:
Price is hovering near the 9 EMA, indicating a cool-off/consolidation phase after the sharp upward rally.
The EMA is acting as dynamic support; price action hovering just above it suggests bullish structure remains intact unless a strong breakdown occurs.
🔍 Candlestick Behavior:
The current cluster of candles shows sideways movement (small-bodied candles), indicating:
Market indecision
Possible continuation (flag/pennant formation)
⚠️ Important Observations:
Volume Spike During Breakout: Notable increase in volume during the sharp bullish move (just after June 1 midnight) confirms strength in breakout.
Price Rejection Near $3,350: Price made a high around $3,349.420 and is now consolidating just below that. This could be a short-term resistance.
No Immediate Bearish Reversal Patterns visible yet. As long as price stays above $3,330–$3,335 zone, bulls remain in control.
📌 Trading Strategy Suggestions (Not Financial Advice)
🔹 For Buyers (Bullish Bias):
Look for buy entries if price pulls back into the $3,335–$3,340 zone with bullish confirmation.
Targets: $3,350, $3,360+
Stop Loss: Below $3,330
🔸 For Sellers (Cautious Bearish Setup):
Only consider short entries if price breaks below $3,330 with volume and closes under that zone.
Target: $3,320, $3,310
Stop Loss: Above $3,340
Would you like a trade idea marked on this chart or a trading plan for the New York session?
Get Accurate Forex & Gold Signals Daily!
Join our trusted trading team with real-time insights and expert support.
Start your winning journey now
Join our trusted trading team with real-time insights and expert support.
Start your winning journey now
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.
Get Accurate Forex & Gold Signals Daily!
Join our trusted trading team with real-time insights and expert support.
Start your winning journey now
Join our trusted trading team with real-time insights and expert support.
Start your winning journey now
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.