Gold faces rejection from key resistance zone (3033–3040) and is currently trading below the Ichimoku cloud, indicating bearish momentum. Price action suggests potential continuation toward the Support Zone around 2985.
Technical Analysis:
Clear rejection from resistance
Bearish structure with lower highs
Price trading below Ichimoku cloud, favoring sellers
Targeting support near 2985
Fundamental View:
Strength in USD amid Fed rate expectations is capping gold's upside
Lack of fresh catalysts has led to profit-taking after recent highs
Bias: Bearish below 3033 resistance
Watch for breakdown toward support zone with confirmation of lower lows.
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Technical Analysis:
Clear rejection from resistance
Bearish structure with lower highs
Price trading below Ichimoku cloud, favoring sellers
Targeting support near 2985
Fundamental View:
Strength in USD amid Fed rate expectations is capping gold's upside
Lack of fresh catalysts has led to profit-taking after recent highs
Bias: Bearish below 3033 resistance
Watch for breakdown toward support zone with confirmation of lower lows.
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t.me/+HZOTWoeqVoo3M2Nk
Our Channel
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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.