Technically, gold is stuck around 3336–3354, right at the 0.705–0.786 Fibo cluster and strong volume resistance. But the key signal is a death cross: MA50 cutting below MA200. This bearish pattern strengthens the downside outlook. RSI remains weak, confirming lack of buying momentum. If 3336 breaks, targets lie at 3298 and 3282 (1.618 Fibo extension).
Fundamentally, gold lacks bullish support. The dollar may not be overly strong, but it stays stable thanks to Fed’s cautious policy. Oil near highs fuels inflation expectations, making gold less attractive. No new geopolitical shocks mean safe-haven demand stays muted.
Tactical plan: below 3354 pressure remains on sellers. Break under 3336 confirms downside with 3298 → 3282 targets. Only a close above 3354 would flip the short-term bias, but current MA structure and volume point to more weakness.
Bottom line: death cross is not a romantic metaphor - it’s a cold reminder that bulls are losing the fight.
Fundamentally, gold lacks bullish support. The dollar may not be overly strong, but it stays stable thanks to Fed’s cautious policy. Oil near highs fuels inflation expectations, making gold less attractive. No new geopolitical shocks mean safe-haven demand stays muted.
Tactical plan: below 3354 pressure remains on sellers. Break under 3336 confirms downside with 3298 → 3282 targets. Only a close above 3354 would flip the short-term bias, but current MA structure and volume point to more weakness.
Bottom line: death cross is not a romantic metaphor - it’s a cold reminder that bulls are losing the fight.
Trade closed: target reached
3336
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👨🎓 Наш телеграм t.me/totoshkatrading
🉐 Торгуем тут linktr.ee/totoshka55
💬 Наши контакты @totoshkatips
🉐 Торгуем тут linktr.ee/totoshka55
💬 Наши контакты @totoshkatips
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.