Gold is currently showing signs of weakness after failing to break above $3,360 resistance. Momentum indicators such as RSI and MACD are turning bearish, and price is now trending below key moving averages and near-term Ichimoku resistance on the H1 and H4 charts.
Recent price action shows lower highs forming, indicating sellers are gaining control. A break below $3,300 would confirm the start of a deeper correction.
🔽 Trade Plan – SELL GOLD (XAU/USD)
This setup targets a breakdown toward the $3,240 support zone, with a stop above recent highs. The trade is based on short-term bearish momentum and weakening buyer strength.
⛔ If GOLD stays below $3,340, selling pressure will likely build, favoring short positions with controlled risk.
Recent price action shows lower highs forming, indicating sellers are gaining control. A break below $3,300 would confirm the start of a deeper correction.
🔽 Trade Plan – SELL GOLD (XAU/USD)
This setup targets a breakdown toward the $3,240 support zone, with a stop above recent highs. The trade is based on short-term bearish momentum and weakening buyer strength.
⛔ If GOLD stays below $3,340, selling pressure will likely build, favoring short positions with controlled risk.
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.