7/25: Key Levels to Watch Closely for Next Week's Trading

Good evening, everyone!

Due to health reasons, I had to take a short break from updates — thank you all for your understanding and support.

This week, gold rallied to the 3440 level, forming a double-top pattern, and has since entered a phase of consolidation with a downward bias, currently retracing back to the key 3337-332 support area.

While a short-term rebound is possible from the 30-minute chart perspective, the weekly structure is not favorable to the bulls. On the daily chart, price has once again reached the MA60 support, and is currently forming three consecutive bearish candles, which suggests that bearish momentum may continue.

Unless there is significant bullish news next week, the market may remain under pressure. Key levels to monitor:

Upside resistance zones: 3343, 3352, 3358, 3366, 3372, 3378, and 3386–3392

Downside support zones: 3337, 3332, 3323, 3312

If the weekly chart breaks down, watch for: 3300 psychological level and 3260 (weekly MA20)

Additionally, during this week's decline, a price gap has been left between 3395–3398. If the market starts to rebound on the 2-hour chart, there is a chance this gap will be filled. However, this area also serves as strong resistance, and any approach toward it could result in heavy selling pressure. Caution is advised in the event of a sharp rally.

I'm still recovering and unable to monitor the markets for extended periods. Once my health improves, I’ll resume regular updates. In the meantime, feel free to leave any questions, and I’ll do my best to respond. Thanks again for your continued support, and I wish everyone success and strong profits in the market!