6/23 Gold Analysis and Trading Views

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Good morning, everyone!

Over the weekend, former President Trump announced and carried out an attack on Iran's nuclear facilities, triggering a renewed wave of risk-off sentiment in the markets. At today’s open, gold surged to around 3394. Driven by geopolitical tensions, the bearish technical structure has temporarily been disrupted.

Whether the bullish momentum can sustain will depend on how the situation continues to unfold.

Key technical levels to watch today:

Resistance: 3389 / 3407 / 3423 / 3432

Support: 3372 / 3365 / 3356 / 3348

Trading strategy: Given the current news-driven market, a buy-on-dip approach is preferred, with short positions as a secondary option depending on price reaction near resistance zones.

Also, pay close attention to today’s daily close (1D chart). If the price closes below 3355, it could signal profit-taking from the bulls, potentially pulling gold back into a bearish technical trend.

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