GOLD IN CONSOLIDATION – IS A MAJOR BREAKOUT IMMINENT?📌 Market Overview
Gold starts the week with limited momentum following last week’s sharp drop from its highs. Investors remain cautious, waiting for stronger signals before committing to a clear direction.
This week, the FOMC meeting will be the key event, as the Federal Reserve is expected to provide crucial updates on monetary policy based on last week’s inflation data.
At the same time, geopolitical tensions are rising after Trump's airstrikes on Iran-backed Houthi forces. However, gold has yet to respond significantly to these developments, suggesting that traders are looking for more confirmation before the next big move.
📊 Key Technical Levels
🔹 Support Levels: 2982 - 2976 - 2966 - 2948
🔹 Resistance Levels: 2994 - 3004 - 3015 - 3034
🎯 Today's Trade Setups
🟢 BUY ZONE: 2975 - 2973
📍 SL: 2970
🎯 TP: 2980 - 2984 - 2988 - 2992 - 2998
🔴 SELL ZONE: 3033 - 3035
📍 SL: 3038
🎯 TP: 3030 - 3025 - 3020 - 3016 - 3010
⚠ High Volatility Expected – Prepare for a Breakout!
Gold has been trading within a tight range since last week, and a breakout is likely during the late Asian or early European session. Traders should anticipate increased volatility and ensure strict risk management. Stick to your TP/SL strategy to safeguard capital.
📢 What’s your outlook for gold this week? Will it break higher, or is another correction coming? Share your thoughts below! 🚀🔥
