Technical Analysis (4H Chart)
Price Action:
Current price: 3,360.07 .
Key levels:
Resistance: 3,386.70 (recent high), 3,430.00 (psychological level).
Support: 3,349.49 (immediate), 3,315 (strong demand zone).
The price is consolidating near the middle of the range (3,360–3,386), indicating indecision.
Trend & Momentum:
Neutral/slightly bearish short-term trend (price below 3,386).
Fundamental Factors
USD Strength:
The U.S. dollar is holding steady, limiting gold's upside. Watch for Fed policy hints (rate cuts could boost gold).
Geopolitical Risks:
Escalations in Middle East tensions or Ukraine could trigger safe-haven demand.
Inflation Data:
Upcoming U.S. PCE (May 31) will influence Fed expectations. Higher inflation = gold support.
Market Sentiment:
Equities are stable; a risk-off shift could favor gold.
Trade Recommendation
Entry Strategy:
Conservative: Wait for a confirmed breakout above 3,386.70 (4H close) with a target at 3,430.00 (risky : 3,350).
Aggressive: Short near 3,370–3,380 if price rejects resistance, targeting 3,315.67 (stop-loss: 3,386.70).
Price Action:
Current price: 3,360.07 .
Key levels:
Resistance: 3,386.70 (recent high), 3,430.00 (psychological level).
Support: 3,349.49 (immediate), 3,315 (strong demand zone).
The price is consolidating near the middle of the range (3,360–3,386), indicating indecision.
Trend & Momentum:
Neutral/slightly bearish short-term trend (price below 3,386).
Fundamental Factors
USD Strength:
The U.S. dollar is holding steady, limiting gold's upside. Watch for Fed policy hints (rate cuts could boost gold).
Geopolitical Risks:
Escalations in Middle East tensions or Ukraine could trigger safe-haven demand.
Inflation Data:
Upcoming U.S. PCE (May 31) will influence Fed expectations. Higher inflation = gold support.
Market Sentiment:
Equities are stable; a risk-off shift could favor gold.
Trade Recommendation
Entry Strategy:
Conservative: Wait for a confirmed breakout above 3,386.70 (4H close) with a target at 3,430.00 (risky : 3,350).
Aggressive: Short near 3,370–3,380 if price rejects resistance, targeting 3,315.67 (stop-loss: 3,386.70).
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.
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.