🚨 Gold Update: Bulls Eye $3,500 Again? 📈
08 Aug 2025
30 Jul 2025
🟡 Gold Technical Analysis: Bearish Rejection at $3,450 – Pullback or Breakout Setup?
Spot gold (XAU/USD) continues to struggle at the $3,450 resistance zone, printing a bearish hammer last week — a possible signal of near-term weakness. Since reaching an all-time high of $3,500 in April 2025, price action has been largely sideways, suggesting a broader consolidation phase is underway.
🔻 Bearish Technical Signal:
The bearish hammer near $3,450 reinforces resistance at that level.
Repeated rejection of this zone signals fatigue among buyers.
A confirmed break below $3,250 could accelerate the downside, with eyes on $3,000 — a key structural support.
🧠 What This Means for Scalpers & Swing Traders:
Short-term, gold may correct lower to find a base before any renewed attempt to retest or break $3,500. The deeper the dip (ideally holding above $3,000), the stronger the eventual bounce potential.
📈 Long-Term View Still Bullish
Despite short-term weakness, the weekly chart remains constructive. Gold has broken out of a symmetrical broadening wedge followed by an ascending triangle — powerful continuation patterns.
These moves have fueled rallies from $2,000 to $3,500, and
The current consolidation is viewed as bullish absorption, not reversal.
In fact, a clean break above $3,500 could initiate a macro extension leg toward $4,000 — possibly within Q4 2025.
🎯 Scalping Focus:
🔸 Resistance: $3,450 → $3,500
🔸 Support: $3,250 → $3,000
🔸 Bias: Short-term Bearish, Long-term Bullish
🔍 Watch for shorting opportunities below $3,450 and buying zones if price nears $3,250 or $3,000 with bullish confirmation.
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Disclaimer: This is general market information only and not financial advice. Always manage risk and consult a licensed advisor.
