Gold is showing signs of exhaustion around the key psychological level of $3,350, coinciding with an unfilled Fair Value Gap. Although a bounce from $3,270 suggests buyers are active, the current price structure is forming lower highs with declining volume near the $3,325 volume profile node — a signal that upward momentum may be fading.
Unless supported by a strong macro catalyst, gold is unlikely to decisively break above $3,350 in the short term. The preferred scenario involves consolidation, minor profit-taking, and a potential retracement toward the $3,300 area. Traders should monitor volume and price reaction at the current resistance before committing to new positions.
Unless supported by a strong macro catalyst, gold is unlikely to decisively break above $3,350 in the short term. The preferred scenario involves consolidation, minor profit-taking, and a potential retracement toward the $3,300 area. Traders should monitor volume and price reaction at the current resistance before committing to new positions.
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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.