Gold Price Analysis July 9

GOLD XAU/USD ANALYSIS – CONFIRMING THE CONTINUATION OF THE BEARISH WAVE

Yesterday's D1 candle confirmed the downward momentum of gold when the selling pressure returned strongly below the liquidity candle wick. This shows that the selling pressure is still dominant and the downward momentum is likely to continue in today's session.

🔹 IMPORTANT RESISTANCE ZONE: 3297
The 3297 zone – which was a strong support in yesterday's session – has now turned into a resistance zone. This is a potential SELL zone for the day, especially if there is a confirmation signal from the sellers at this price zone.

🔹 CONFUSION RESISTANCE ZONE: 3310
The 3310 area is the confluence between the downtrend line and the resistance zone of the US session – which needs special attention in the SELL strategy. If the price approaches this zone, expect a reaction from the selling side to return.

🎯 SUGGESTED STRATEGY:

SELL when price does not break through 3297 (confirm selling pressure at resistance)

SELL DCA if price breaks down to 3276

Target: 3250

BUY only considered if price holds 3276 and has a bullish reaction

📌 Key Levels:

Support: 3277 – 3250

Resistance: 3297 – 3310 – 3328

Important reaction zone: 3377 (if price rebounds)