🏆 Forecast for #GOLD
GOLD -> above the resistance level
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📊 Technical Analysis
● Bulls defended the channel base at 3 333, snapping the intraday falling wedge and reclaiming the broken trend-line; successive higher-lows since 17 Jul signal fresh upside momentum.
● A clean H1 close over the former pivot 3 355 flips the wedge crest into support and activates the measured-move target at the upper horizontal barrier 3 366, with the March swing cap 3 389 next.
💡 Fundamental Analysis
● Softer US jobless-claims trend and Fed speakers’ hints that “policy is restrictive enough” cooled two-year real yields, while PBoC’s June data showed net gold purchases for a fourth month—both underpinning spot demand.
✨ Summary
Long 3 345-3 355; hold above 3 355 targets 3 366 → 3 389. Bias void on an H1 close beneath 3 333.
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