GOLD: The Ongoing Downtrend May Continue

XAUUSD Gold Traders

Hello everyone! Today i want to share some macro analysis with you!

1.

$Gold - main 2508(GCmain)$ $XAU/USD(XAUUSD.FOREX)$ Technicals: Gold prices fell for the fourth consecutive session. The Relative Strength Index (RSI) has turned bearish, suggesting the ongoing downtrend could continue.

If gold prices fall below 3300, the next support level will be the confluence of the 100-day SMA and the 30 June low (near 3244). Should the latter be broken, gold would aim for $3200 and the 15 May swing low of $3120.

On the upside, gold needs to regain 3350, which would clear the way to 3400 ounces, followed by the 16 June peak at 3452! European markets are focusing first on resistance around 3330 , and personally I don't see an end to the decline in the short term, so trading continues to be dominated by sell order trades!

Strategy: Sell: 3324-26

TP:3315-10-08 SL: 3335

Image

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Today i want to share some macro analysis with you!</p><p></p><p>1.</p><p> <a data-mention-id=\"GCmain\" class=\"teditor-mention\" data-mention-name=\"Gold - main 2508\" href=\"https://ttm.financial/FUT/GCmain\">$Gold - main 2508(GCmain)$</a>  <a data-mention-id=\"XAUUSD.FOREX\" class=\"teditor-mention\" data-mention-name=\"XAU/USD\" href=\"https://ttm.financial/S/XAUUSD.FOREX\">$XAU/USD(XAUUSD.FOREX)$</a> Technicals: Gold prices fell for the fourth consecutive session. The Relative Strength Index (RSI) has turned bearish, suggesting the ongoing downtrend could continue.</p><p>If gold prices fall below 3300, the next support level will be the confluence of the 100-day SMA and the 30 June low (near 3244). Should the latter be broken, gold would aim for $3200 and the 15 May swing low of $3120.</p><p>On the upside, gold needs to regain 3350, which would clear the way to 3400 ounces, followed by the 16 June peak at 3452! European markets are focusing first on resistance around 3330 , and personally I don't see an end to the decline in the short term, so trading continues to be dominated by sell order trades!  </p><p>Strategy: Sell: 3324-26 </p><p>TP:3315-10-08 SL: 3335  </p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/22b7ff8f56980c8713295be84c7480aa\" tg-width=\"926\" tg-height=\"468\"><span>Image</span></p><p></p><p>For whom haven't open CBA can know more from below:</p><p>🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK, US stocks as well as ETFs unlimitedly!</p><blockquote><p>Find out more here：</p><ul style=\"\"><li><p><a href=\"https://tigr.link/9ApRRc\" title=\"Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading.\" target=\"_blank\">Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading.</a></p></li><li><p><a href=\"https://ttm.financial/TW/367769452580952\" title=\"💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉\" class=\"\">💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉</a></p></li><li><p><a href=\"https://ttm.financial/TW/413454436958416\" title=\"💰CBA Mini Course 1: What is Cash Boost Account(CBA)?\" class=\"\">💰CBA Mini Course 1: What is Cash Boost Account(CBA)?</a></p></li></ul></blockquote><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/381b104429792cae7f67dc1120e2458d\" tg-width=\"1080\" tg-height=\"1080\"></p></body></html>","htmlText":"<html><head></head><body><p>Hello everyone! Today i want to share some macro analysis with you!</p><p></p><p>1.</p><p> <a data-mention-id=\"GCmain\" class=\"teditor-mention\" data-mention-name=\"Gold - main 2508\" href=\"https://ttm.financial/FUT/GCmain\">$Gold - main 2508(GCmain)$</a>  <a data-mention-id=\"XAUUSD.FOREX\" class=\"teditor-mention\" data-mention-name=\"XAU/USD\" href=\"https://ttm.financial/S/XAUUSD.FOREX\">$XAU/USD(XAUUSD.FOREX)$</a> Technicals: Gold prices fell for the fourth consecutive session. The Relative Strength Index (RSI) has turned bearish, suggesting the ongoing downtrend could continue.</p><p>If gold prices fall below 3300, the next support level will be the confluence of the 100-day SMA and the 30 June low (near 3244). Should the latter be broken, gold would aim for $3200 and the 15 May swing low of $3120.</p><p>On the upside, gold needs to regain 3350, which would clear the way to 3400 ounces, followed by the 16 June peak at 3452! European markets are focusing first on resistance around 3330 , and personally I don't see an end to the decline in the short term, so trading continues to be dominated by sell order trades!  </p><p>Strategy: Sell: 3324-26 </p><p>TP:3315-10-08 SL: 3335  </p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/22b7ff8f56980c8713295be84c7480aa\" tg-width=\"926\" tg-height=\"468\"><span>Image</span></p><p></p><p>For whom haven't open CBA can know more from below:</p><p>🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK, US stocks as well as ETFs unlimitedly!</p><blockquote><p>Find out more here：</p><ul style=\"\"><li><p><a href=\"https://tigr.link/9ApRRc\" title=\"Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading.\" target=\"_blank\">Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading.</a></p></li><li><p><a href=\"https://ttm.financial/TW/367769452580952\" title=\"💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉\" class=\"\">💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉</a></p></li><li><p><a href=\"https://ttm.financial/TW/413454436958416\" title=\"💰CBA Mini Course 1: What is Cash Boost Account(CBA)?\" class=\"\">💰CBA Mini Course 1: What is Cash Boost Account(CBA)?</a></p></li></ul></blockquote><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/381b104429792cae7f67dc1120e2458d\" tg-width=\"1080\" tg-height=\"1080\"></p></body></html>","text":"Hello everyone! Today i want to share some macro analysis with you! 1. $Gold - main 2508(GCmain)$ $XAU/USD(XAUUSD.FOREX)$ Technicals: Gold prices fell for the fourth consecutive session. The Relative Strength Index (RSI) has turned bearish, suggesting the ongoing downtrend could continue. If gold prices fall below 3300, the next support level will be the confluence of the 100-day SMA and the 30 June low (near 3244). Should the latter be broken, gold would aim for $3200 and the 15 May swing low of $3120. On the upside, gold needs to regain 3350, which would clear the way to 3400 ounces, followed by the 16 June peak at 3452! European markets are focusing first on resistance around 3330 , and personally I don't see an end to the decline in the short term, so trading continues to be dominated by sell order trades! Strategy: Sell: 3324-26 TP:3315-10-08 SL: 3335 Image For whom haven't open CBA can know more from below: 🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK, US stocks as well as ETFs unlimitedly! Find out more here： Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading. 💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉 💰CBA Mini Course 1: What is Cash Boost Account(CBA)?","highlighted":1,"essential":1,"paper":2,"likeSize":69,"commentSize":0,"repostSize":3,"favoriteSize":0,"link":"https://ttm.financial/post/461898485399648","repostId":0,"isVote":1,"tweetType":1,"viewCount":1818,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["XAUUSD.FOREX","GCmain"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":true,"length":1076,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/461898485399648"}