🏆 Forecast for #GOLD
GOLD -> moving in the range
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📊 Technical Analysis
● Rebound has met triple confluence: the H4 rising-wedge apex, the red 3 300-3 350 supply, and the roof of the broader descending channel – the same zone that capped rallies on 7 & 9 May.
● Bearish divergence appears on RSI while the wedge’s base is rising toward 3 284; a 4 h close beneath it should unlock the channel mid-line/blue trend support at 3 172, then the floor near 3 100.
💡 Fundamental Analysis
● US data stay firm – weekly jobless claims held near 227 k and May flash PMIs beat consensus, keeping 2-yr yields parked just under 5 % and the dollar bid.
● World Gold Council notes a fifth straight week of ETF outflows as higher opportunity cost dents investment demand.
✨ Summary
Fade strength inside 3 300-3 350; wedge breakdown < 3 284 aims 3 172 → 3 100. Shorts invalidated on a sustained H4 close above 3 350.
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🚀Top Broker - Link
⚡️Contact @DeGRAMForex
GOLD -> moving in the range
—————————
📊 Technical Analysis
● Rebound has met triple confluence: the H4 rising-wedge apex, the red 3 300-3 350 supply, and the roof of the broader descending channel – the same zone that capped rallies on 7 & 9 May.
● Bearish divergence appears on RSI while the wedge’s base is rising toward 3 284; a 4 h close beneath it should unlock the channel mid-line/blue trend support at 3 172, then the floor near 3 100.
💡 Fundamental Analysis
● US data stay firm – weekly jobless claims held near 227 k and May flash PMIs beat consensus, keeping 2-yr yields parked just under 5 % and the dollar bid.
● World Gold Council notes a fifth straight week of ETF outflows as higher opportunity cost dents investment demand.
✨ Summary
Fade strength inside 3 300-3 350; wedge breakdown < 3 284 aims 3 172 → 3 100. Shorts invalidated on a sustained H4 close above 3 350.
—————————
🚀Top Broker - Link
⚡️Contact @DeGRAMForex
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