GOLD → Declining interest. Retest of support

昨天

XAUUSD experienced significant volatility toward the end of the US trading session. This was due to developments in the Middle East. The de-escalation of the situation is leading to a decline in interest in the metal.



The announced ceasefire between Iran and Israel has reduced demand for gold as a safe-haven asset, while falling oil prices have reduced its appeal as a hedge against inflation. Gold is supported by expectations of a Fed rate cut in July. The focus is on Fed Chair Powell's testimony before Congress and further developments in the Middle East.
Technically, the price confirms the local bearish structure. A continued assault on the 3340 support level could trigger a further decline.

Support levels: 3343-3340, 3320
Resistance levels: 3360, 3366

Focus on the trading range (consolidation) 3340 - 3400. De-escalation of the conflict in the Middle East may lead to a decline in interest in gold as a hedge asset, which may cause the price to break down of consolidation. If the retest of 3340 continues, the price will begin to contract before the level, in which case the chances of a breakdown and decline will only increase. The target will be the liquidity zone of 3320 - 3306

Best regards, R. Linda!

昨天

交易進行

10 小時前

交易結束：目標達成

target reached