Gold May Rise Technically after Testing the $3,300 Zone

31 Jul

📊 Market Overview:
Spot gold is trading around $3,295–$3,301/oz, influenced by slightly lower U.S. Treasury yields and a softer dollar tone. Analyst consensus from Reuters projects gold likely to stay above $3,220/oz through 2025 and possibly hit $3,400 in 2026 amid continued safe-haven demand

📉 Technical Analysis:
• Key resistance: $3,320 / $3,345
• Closest support: $3,274 – $3,280
• EMA09: Price is currently below the 9 period EMA on H1, indicating a short-term bearish bias.
• Candlestick / volume / momentum: There was a minor bounce from the support zone around $3,274, but volume remains low. RSI isn't oversold, suggesting room for technical pullback.

📌 Outlook:
Gold may experience a technical rebound if it holds above $3,280. A breakout above $3,320 would likely require clear catalyst—such as weak U.S. data or a dovish Fed tone.

💡 Suggested Trading Strategy:
SELL XAU/USD: $3,320 – $3,323
🎯 TP: 40/80/200 pips
❌ SL: $3,326

BUY XAU/USD: $3,279 – $3,282
🎯 TP: 40/80/200 pips
❌ SL: $3376

31 Jul

Dagangan aktif

Price broke above $3309 but failed to hold, quickly reversing back to $3305 → indicating a potential false breakout. If a confirmation candle appears, this could be a strong SELL opportunity.

31 Jul

Dagangan ditutup: sasaran tercapai

Gold experienced a technical rebound as expected and continued to decline following the news.