After Monday’s correction into the 3380 support zone, Gold entered a consolidation phase. Bulls attempted to push higher but failed to reclaim the 3400 resistance area.
❓ Is this just the beginning of a deeper leg down?
🔻 Why further downside is likely:
• Price broke decisively below the 3380 horizontal support just hours ago
• The market is now trading around 3365, confirming bearish momentum
• 3400 remains unbroken on the daily chart – keeping the downward pressure
📌 Trading plan:
As long as we don’t see a daily close above 3400, I’m selling rallies. A test of the 3300 level is very likely if current pressure continues.
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
❓ Is this just the beginning of a deeper leg down?
🔻 Why further downside is likely:
• Price broke decisively below the 3380 horizontal support just hours ago
• The market is now trading around 3365, confirming bearish momentum
• 3400 remains unbroken on the daily chart – keeping the downward pressure
📌 Trading plan:
As long as we don’t see a daily close above 3400, I’m selling rallies. A test of the 3300 level is very likely if current pressure continues.
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.