GOLD: The Short-term Bullish Pattern Will Recover

XAUUSD Gold Traders

Technical Analysis: After dipping to $4,341.35 and hitting a short-term support level, gold staged a rebound amid volatility. It subsequently formed a bullish swing high above the 4,450–4,460 range but has recently shifted to a downward correction from these highs. The price action shows signs of a slowing downtrend and stabilization through sideways consolidation at lower levels.

If the short-term rebound consistently fails to break through and close above $4,425 on the 1-hour chart, the bears will maintain control. The market is highly likely to break below the local support at 4,360 and initiate a second retest of the extremely dense support zone at 4,310–4,305 below.

If bulls force a rally driven by news events (such as a sudden escalation of geopolitical tensions or an unexpectedly weak CPI reading) and manage to break above 4,4225–30 with strong volume, the short-term bullish pattern will recover, and the market will be directly bullish toward the $4,473–$4,500 range. Continue to focus on sell positions! $XAU/USD(XAUUSD.FOREX)$$Gold - main 2612(GCmain)$

Strategy: Sell: 4,418–21 TP: 4,400–4,395–4,390 SL: Above 4,432 (set according to personal preference)

Monetary policy, various types of price indices... Here is everything about the macro economy!

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Here is everything about the macro economy!","image":"https://static.tigerbbs.com/b92fcdcbb675f48af67c8cfbd53f43a3"}],"images":[{"img":"https://community-static.tradeup.com/news/4a4bec895beec62b5a37d7c7499f9b13","width":"1013","height":"455"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/4a4bec895beec62b5a37d7c7499f9b13","width":"1013","height":"455"}],"title":"GOLD:  The Short-term Bullish Pattern Will Recover","html":"<html><head></head><body><p style=\"text-align: left;\">Technical Analysis: After dipping to $4,341.35 and hitting a short-term support level, gold staged a rebound amid volatility. It subsequently formed a bullish swing high above the 4,450–4,460 range but has recently shifted to a downward correction from these highs. The price action shows signs of a slowing downtrend and stabilization through sideways consolidation at lower levels.</p>\n<p style=\"text-align: left;\">If the short-term rebound consistently fails to break through and close above $4,425 on the 1-hour chart, the bears will maintain control. The market is highly likely to break below the local support at 4,360 and initiate a second retest of the extremely dense support zone at 4,310–4,305 below.</p>\n<p style=\"text-align: left;\">If bulls force a rally driven by news events (such as a sudden escalation of geopolitical tensions or an unexpectedly weak CPI reading) and manage to break above 4,4225–30 with strong volume, the short-term bullish pattern will recover, and the market will be directly bullish toward the $4,473–$4,500 range. Continue to focus on sell positions! <a data-mention-id=\"XAUUSD.FOREX\" rel=\"noopener noreferrer\" class=\"teditor-mention\" data-mention-name=\"XAU/USD\" target=\"_blank\" href=\"https://ttm.financial/S/XAUUSD.FOREX\">$XAU/USD(XAUUSD.FOREX)$</a><a data-mention-id=\"GCmain\" rel=\"noopener noreferrer\" class=\"teditor-mention\" data-mention-name=\"Gold - main 2612\" target=\"_blank\" href=\"https://ttm.financial/FUT/GCmain\">$Gold - main 2612(GCmain)$</a></p>\n<p style=\"text-align: left;\">Strategy: Sell: 4,418–21 TP: 4,400–4,395–4,390 SL: Above 4,432 (set according to personal preference)</p>\n<p class=\"t-img-caption\"><img data-align=\"center\" src=\"https://community-static.tradeup.com/news/4a4bec895beec62b5a37d7c7499f9b13\" tg-width=\"1013\" tg-height=\"455\"><span></span></p></body></html>","htmlText":"<html><head></head><body><p style=\"text-align: left;\">Technical Analysis: After dipping to $4,341.35 and hitting a short-term support level, gold staged a rebound amid volatility. It subsequently formed a bullish swing high above the 4,450–4,460 range but has recently shifted to a downward correction from these highs. The price action shows signs of a slowing downtrend and stabilization through sideways consolidation at lower levels.</p>\n<p style=\"text-align: left;\">If the short-term rebound consistently fails to break through and close above $4,425 on the 1-hour chart, the bears will maintain control. The market is highly likely to break below the local support at 4,360 and initiate a second retest of the extremely dense support zone at 4,310–4,305 below.</p>\n<p style=\"text-align: left;\">If bulls force a rally driven by news events (such as a sudden escalation of geopolitical tensions or an unexpectedly weak CPI reading) and manage to break above 4,4225–30 with strong volume, the short-term bullish pattern will recover, and the market will be directly bullish toward the $4,473–$4,500 range. Continue to focus on sell positions! <a data-mention-id=\"XAUUSD.FOREX\" rel=\"noopener noreferrer\" class=\"teditor-mention\" data-mention-name=\"XAU/USD\" target=\"_blank\" href=\"https://ttm.financial/S/XAUUSD.FOREX\">$XAU/USD(XAUUSD.FOREX)$</a><a data-mention-id=\"GCmain\" rel=\"noopener noreferrer\" class=\"teditor-mention\" data-mention-name=\"Gold - main 2612\" target=\"_blank\" href=\"https://ttm.financial/FUT/GCmain\">$Gold - main 2612(GCmain)$</a></p>\n<p style=\"text-align: left;\">Strategy: Sell: 4,418–21 TP: 4,400–4,395–4,390 SL: Above 4,432 (set according to personal preference)</p>\n<p class=\"t-img-caption\"><img data-align=\"center\" src=\"https://community-static.tradeup.com/news/4a4bec895beec62b5a37d7c7499f9b13\" tg-width=\"1013\" tg-height=\"455\"><span></span></p></body></html>","text":"Technical Analysis: After dipping to $4,341.35 and hitting a short-term support level, gold staged a rebound amid volatility. It subsequently formed a bullish swing high above the 4,450–4,460 range but has recently shifted to a downward correction from these highs. The price action shows signs of a slowing downtrend and stabilization through sideways consolidation at lower levels. If the short-term rebound consistently fails to break through and close above $4,425 on the 1-hour chart, the bears will maintain control. The market is highly likely to break below the local support at 4,360 and initiate a second retest of the extremely dense support zone at 4,310–4,305 below. If bulls force a rally driven by news events (such as a sudden escalation of geopolitical tensions or an unexpectedly weak CPI reading) and manage to break above 4,4225–30 with strong volume, the short-term bullish pattern will recover, and the market will be directly bullish toward the $4,473–$4,500 range. 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