Gold Futures: Short-Term Bounce Before Bigger Play?Gold Futures (MGC) has now reached the H4 + Daily FVG confluence zone we’ve been tracking over the past few days. Price action has been decisively bearish, breaking key intraday supports and targeting liquidity below the weekly low.
On the 1H & 4H, the ADX > 25 confirms strong short-term momentum, but the higher timeframes (8H+) still lack the directional conviction for the “big play.” This suggests the current move may be part of a broader setup still in development.
Here’s the scenario I’m watching:
Asian Session: Potential bullish retracement toward the POC in the volume profile as buyers step in from current FVG support.
London Session: Opportunity for shorts if price tags the supply zone around 3,430–3,447 and fails to reclaim higher levels.
NY Session: Possible reaction inside the remaining bullish FVGs, especially if USD news catalysts shake up momentum.
📊 Key Levels:
Support: 3,397 (W-L), 3,385–3,350 (lower FVG & HVN).
Resistance: 3,432–3,447 (supply), 3,466 (D-H).
Bias: Short-term bounce → London short setup → watch for NY session reaction.
Tomorrow’s USD-heavy news cycle could be the volatility driver that determines whether we get a deeper drop into the 3,350s or a reclaim back toward the mid-3,400s.
