Gold prices have found temporary footing just above the 100-day Simple Moving Average (SMA), halting the post-FOMC decline for now. However, momentum indicators on the daily chart are beginning to turn bearish, warning traders of potential exhaustion on any upside attempts.
📉 Immediate resistance lies between $3,309–$3,310 — a key zone that has capped recent bullish efforts. A clear break and close above this area is essential to trigger fresh upside potential. If bulls manage to secure this level, a short-covering rally could push gold higher toward the next resistance zone at $3,325–$3,326.
🛑 Failure to break above $3,310, however, is likely to invite renewed selling pressure, especially if prices retreat below the $3,275–$3,270 support band (close to the 100-day SMA). A decisive breakdown below this region may expose gold to a deeper pullback toward the June swing low at $3,248–$3,247, which remains a crucial pivot. A sustained drop beneath this zone could open the door for a further slide toward the psychological support at $3,200.
🔐 Gold Scalping Signals Takeaway:
Traders should monitor $3,310 as a line in the sand. Only a clean break above it confirms strength. For now, short-term sell setups remain viable below resistance, especially if bearish momentum continues to build.
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