Gold weekly chart with buy and sell levels

* **Timeframe:** 1-Hour (H1)
* **Instrument:** XAU/USD
* **Indicators & Levels Used:**

* EMAs 9 & 21 period
* Key horizontal support/resistance levels
* Pivot levels (weekly, daily, monthly)

* Marked **Buy** at 3322.365 and **Sell** at 3318
* Daily Open: 3372.775
* Daily High: 3414.790
* Daily Close: 3305.980
* Daily Low: 3286.805

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### 🔍 **Technical Analysis:**

#### 1. **Trend Context:**

* The overall **short-term trend** is sideways to slightly bearish.
* Recent price action formed **lower highs and higher lows**, indicating **consolidation**.
* Price is currently trading **below the Daily Open** (bearish intraday bias).
* EMAs are converging, showing **reduced momentum** after prior volatility.

#### 2. **Buy Entry at 3322.365:**

* This is a **reasonable support-retest buy**, taken just above a former demand zone and near the **Daily Close**.
* Likely logic: price bounced from the **3310–3318 support area**, tested the weekly pivot zone and EMAs, signaling a bounce.
* **However**, the proximity to strong resistance at 3340–3350, and lack of strong momentum, suggests this buy was short-lived or scalped.
* **Risk:** Weak buying pressure above this level and failure to reclaim 3340 meant it couldn't reach 3360+.

#### 3. **Sell Entry at 3318:**

* This is a **strategic sell**, probably expecting a break below short-term structure and aiming for the 3300/3288 area.
* Price tested the EMAs and was rejected—classic **pullback entry after lower high**.
* A clear **bearish setup**: break below structure, retest and failure at dynamic resistance.
* **Target zones:**

* 3300 – psychological round number + minor support
* 3288/3278 – structural lows
* 3240 – weekly support and major reaction zone

#### 4. **Key Levels & Zones:**

* **Resistance:**

* 3340: Short-term cap
* 3368 – 3382: Supply area
* 3418 – 3450: Strong resistance, but far from current price
* **Support:**

* 3310 – 3300: Near-term support
* 3288 – 3278: Major demand zone (watch for buy reaction)
* 3240: Weekly support – high-probability reaction zone if reached

#### 5. **EMA Structure:**

* EMAs are turning sideways, but currently acting as dynamic resistance.
* Price attempted to reclaim them during the Asian/early European session but was rejected — bearish signal.

#### 6. **Market Sentiment:**

* Momentum has cooled.
* Failure to maintain above 3340 signals weak bullish conviction.
* With price below daily open and rejecting the EMAs, bias is now **tilted bearish** unless 3340 is reclaimed convincingly.

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### ✅ **Conclusion & Strategy:**

* **Bias:** Bearish below 3340; neutral between 3300–3340; bullish above 3360.

* **If holding short from 3318:** This is a solid entry. Consider partial profits at 3300/3288 and trailing stop to break-even.

* **If looking for re-entry:**

* Sell pullbacks below 3325 if 3300 is broken.
* Buy only with confirmation above 3340 and reclaim of 3360.

* **Upcoming key areas to watch:**

* **3288 – 3278:** Ideal for long entries with tight stops (watch for bounce/candlestick reversal patterns).
* **3368 – 3382:** Strong rejection zone if price reclaims 3340—good for short setups.