Gold Bears Back in Control – Targeting 3270 Again

5 hari lalu

In my analysis yesterday, I noted that after the false break above 3370 resistance, there was a high likelihood of a reversal, potentially driving Gold back down to the 3270 support zone.

Market Reaction:
• As expected, Gold turned lower after retesting the broken 3370 support, now acting as resistance.
• The price dropped nearly 1000 pips, which has become the new norm for daily Gold fluctuations lately.

What’s Next?
• With the current rebound, the 3370 zone should once again act as a barrier.
• The strategy remains to sell rallies, targeting a fresh test of the 3270 support zone.

Until this support is broken, expect very volatile moves, but the broader trend remains bearish

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.

kelmarin

Dagangan ditutup: sasaran tercapai

3270 zone touched