$Gold - main 2508(GCmain)$ $E-mini Nasdaq 100 - main 2509(NQmain)$ $SPDR Gold Shares(GLD)$ π₯βοΈπ₯ Gold Clings to Support: HVL Holds for Now, But $3,200 Is Make-or-Break π₯βοΈπ₯
Gold Futures (GCQ25) are teetering on the edge of a critical structure. Weβre holding the High Volatility Level (HVL) near $3,345, but a chilling chart reality is setting in: this is the worst technical structure gold has printed all year.
The 50 EMA has been breached. RSI is sliding. MACD crossed bearish. Stochastics are rolling over. Zooming out, price just broke below a 3-month compression wedge with momentum shifting to the downside. Bulls need to reclaim $3,370 Gamma Wall quickly, or this turns into a breakdown scenario with $3,200 the last line of defence.
π£ If $3,200 fails, we could be staring down a major top formation with risk all the way back to $3,000β$2,950. This is a structural pivot point for the entire 2025 gold thesis.
π§ Whatβs Supporting Price Right Now:
β’ $3,345 HVL is acting as soft footing with Gamma Wall and Call OI clustering at $3,370
β’ COMEX open interest surged +4.4K contracts yesterday, possible stealth accumulation
β’ Fed pivot bets growing as jobs data softens, while the US dollar just hit a multi-year low
β’ Gold holding despite low volume into the July 4 holiday, thin books often mark turning points
π Flow + Macro Update:
β’ ADP jobs miss + soft JOLTS data = growing dovish pressure on the Fed
β’ Ongoing tariff uncertainty (July 9 decision) = safe-haven bid
β’ $3.3T debt stimulus package in Senate = reflation premium staying bid
β’ Reuters highlights spot gold retesting $3,358 resistance, right near the Gamma wall
π Technical Breakdown:
β’ Bearish crossover on MACD, weak Stoch RSI
β’ Breach of dynamic trend support
β’ Breakdown from compression range with downside volume increasing
π― Decision Zones:
β’ Hold $3,345β$3,320 = Gamma squeeze potential back toward $3,400
β’ Break $3,320 = Momentum shifts to full risk-off with $3,200 as final battleground
π¬ This is the most vulnerable gold has looked since October. The $3,200 level isnβt just technical, itβs psychological. Lose it, and every algo and CTA model flips bearish!
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Trade like a boss! Happy trading ahead, Cheers, BC πππππ
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