Gold is currently respecting the 3330–3350 zone as a strong supply region. This area has repeatedly acted as a ceiling where sellers have stepped in aggressively, preventing further upside momentum. The recent attempt to push higher was again met with selling pressure, confirming this level as a key short-term resistance.
Unless price decisively breaks above 3350 with strong volume, the bias remains mildly bearish. The downside targets the 3230 high volume zone, which is structurally important. This area has previously absorbed heavy orders and acted as a base for bullish continuation moves. If price approaches this level again, it could attract renewed buying interest.
For now, price seems caught in a range between strong sellers at the top and potential buyers waiting lower.
Unless price decisively breaks above 3350 with strong volume, the bias remains mildly bearish. The downside targets the 3230 high volume zone, which is structurally important. This area has previously absorbed heavy orders and acted as a base for bullish continuation moves. If price approaches this level again, it could attract renewed buying interest.
For now, price seems caught in a range between strong sellers at the top and potential buyers waiting lower.
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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.