Gold INTRADAY corrective pullback supported at 3227
Trade optimism is lifting market sentiment, with the US Dollar gaining strength and pulling investment away from safe-haven Gold. However, uncertainty lingers due to conflicting signals in US-China trade talks. While President Trump claims discussions are ongoing, China denies any tariff negotiations. At the same time, traders anticipate the Federal Reserve will restart rate cuts in June, with markets pricing in the likelihood of at least three cuts this year. These expectations could provide near-term support for Gold despite current headwinds.
Resistance Level 1: 3392
Resistance Level 2: 3457
Resistance Level 3: 3500
Support Level 1: 3227
Support Level 2: 3173
Support Level 3: 3130
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Trade optimism is lifting market sentiment, with the US Dollar gaining strength and pulling investment away from safe-haven Gold. However, uncertainty lingers due to conflicting signals in US-China trade talks. While President Trump claims discussions are ongoing, China denies any tariff negotiations. At the same time, traders anticipate the Federal Reserve will restart rate cuts in June, with markets pricing in the likelihood of at least three cuts this year. These expectations could provide near-term support for Gold despite current headwinds.
Resistance Level 1: 3392
Resistance Level 2: 3457
Resistance Level 3: 3500
Support Level 1: 3227
Support Level 2: 3173
Support Level 3: 3130
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.