In my Friday analysis, I highlighted the potential for Gold to retest the 3270 support zone, and indeed, the Asian session and the opening of the new trading week confirmed this move, pushing Gold down to a low of 3255.
The overall chart structure remains strongly bearish following the false breakout above the 3370 resistance and the spike above 3400. This suggests that sellers are firmly in control, with a high probability of further downside.
I expect a break below 3270 support in the coming sessions, targeting the 3200 zone as the next major level for bears.
For now, the strategy remains clear:
Sell rallies as long as 3350 resistance remains intact. 🚀
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
The overall chart structure remains strongly bearish following the false breakout above the 3370 resistance and the spike above 3400. This suggests that sellers are firmly in control, with a high probability of further downside.
I expect a break below 3270 support in the coming sessions, targeting the 3200 zone as the next major level for bears.
For now, the strategy remains clear:
Sell rallies as long as 3350 resistance remains intact. 🚀
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
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Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.