Fed Chair Powell noted that shifting economic risks strengthen the case for rate cuts, signaling potential support for a 25bp cut at the September meeting. In response, gold bulls surged, breaking through the 3358–3366 resistance and reaching around 3378.
⚠️ Caution: After sharp rallies, pullbacks are common. Avoid blind chasing — if you do, keep positions light and be ready to close quickly.
📌 My outlook: I’ve started entering sell positions, with key supports to watch at 3366–3358–3352 during pullbacks.
Importantly, this rally has shifted the 1D structure; holding above 3350 could open the door for a bullish move toward the 3400 level.
⚠️ Caution: After sharp rallies, pullbacks are common. Avoid blind chasing — if you do, keep positions light and be ready to close quickly.
📌 My outlook: I’ve started entering sell positions, with key supports to watch at 3366–3358–3352 during pullbacks.
Importantly, this rally has shifted the 1D structure; holding above 3350 could open the door for a bullish move toward the 3400 level.
Trade active
Our sell orders are already in profit ✅Short-term volatility remains high, so conservative traders may consider closing positions to secure gains.
If you choose to hold, please make sure to manage risk carefully to avoid unexpected reversals.
I’ve created a channel where I’ll be posting market analysis and trading signals.
Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
t.me/+h6RM5RdP6X9hNmI8
Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
t.me/+h6RM5RdP6X9hNmI8
Related publications
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.
I’ve created a channel where I’ll be posting market analysis and trading signals.
Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
t.me/+h6RM5RdP6X9hNmI8
Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
t.me/+h6RM5RdP6X9hNmI8
Related publications
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.