Gold at a Decision Point-Just as Tariff Headlines Return(July 9)📌
4H Technical Outlook by MJTrading
Price is compressing inside a falling channel, nested within a large symmetrical triangle, and now sits right at a high-stakes confluence zone — a perfect intersection of dynamic EMAs, rising trendline support, and local structure.
This could be a pivot point for the next major leg.
🧭 Key Scenarios:
🟢 Bullish Breakout Potential:
If price breaks above the falling channel and holds above $3,310–$3,320:
🎯 Target: $3,400, and eventually upper triangle resistance near $3,480–$3,500
✅ Watch for impulsive breakout + retest confirmation
🟡 Bearish Breakdown Risk:
If the rising trendline gives way and price closes below $3,275 (High Risk) and $3,245(Low Risk):
🎯 Targets: First $3,232, then key level $3,166
⚠️ Further weakness may expose $3,000 psychological support
🔍 Why It Matters:
• Symmetry + compression = potential volatility expansion
• Trump tariff headlines today (July 9) could trigger safe haven demand
• Strong historical respect of these trendlines
• EMAs aligning around decision zone
“Another BreathTaking Edge” — because this is one of those moments where market structure whispers louder than words.
🗣 Boost if you find value, and follow MJTrading for more clean setups.🚀🚀
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