Gold at Key Rejection Zone: Will the Drop Resume from $3310?

5月29日

By examining the gold chart on the 4-hour timeframe, we can see that after some consolidation between $3294 and $3302, the price finally began a sharp drop, correcting down to $3245. This area was a key demand zone on lower timeframes, which triggered a rebound, and gold is now trading around $3310. If the price gets rejected from the $3310–$3313 zone, we can expect another potential decline.

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Best Regards , Arman Shaban

5月30日

交易進行

By examining the gold chart on the 4-hour timeframe, we can see that after our previous analysis, the price entered the expected supply zone and dropped from $3330 to $3282, delivering over 500 pips of return. Key demand zones are at $3263 and $3223, while important supply zones are at $3305, $3318, and $3355. The main analysis remains valid, and I still expect further downside for gold.