Gold Faces Resistance at $3,220 — Short Setup Targeting $3,180 S

14 Apr

Earlier, gold prices surged to an all-time high of $3,245/oz, but soon encountered selling pressure, triggering a pullback that briefly broke below the $3,200 psychological level, touching intraday lows near $3,193. As of now, the price is consolidating around $3,210, with short-term momentum appearing to fade.

From a technical perspective:

$3,220 represents the right shoulder resistance of a potential short-term head-and-shoulders pattern.

$3,190 acts as a secondary support level.

The $3,180–$3,160 zone marks the lower bound of the intraday base on the hourly chart.

If price action remains capped below $3,220, there is a high likelihood of a downside retest toward the $3,180–$3,170 support band.

📌 Trading Strategy:
Initiate short positions near $3,220, with a protective stop above $3,228. Downside targets lie at $3,180–$3,170, in line with the hourly support range.

14 Apr

Dagangan aktif

📉 Gold Short-Term Trade Setup

Sell Entry: $3,207

Stop Loss: $3,217

Target Levels: $3,190 / $3,180

▶️ Price is facing resistance near $3,210 with weakening upside momentum. A potential minor double-top pattern is forming, suggesting a short-term retracement toward support zones.