🚨 Gold Update: Bulls Eye $3,500 Again? 📈
08 Aug 2025
29 Jul 2025
🔔 Gold Technical Outlook: Bears Eye $3,300 Break for Next Move
Gold continues to show signs of weakness, and at Gold Scalping Signals, we've been closely tracking this setup as momentum shifts in favor of the bears.
After multiple failed attempts to break above the $3,434–$3,435 resistance zone, price action on the daily chart has formed a clear multi-top pattern, a strong technical indicator of a potential reversal. In addition, daily oscillators have begun to lean bearish, pointing toward a deeper retracement — but the key trigger lies just below.
📉 $3,300 is the major level to watch.
A clean break and close beneath this psychological level would confirm a bearish continuation, exposing gold to further downside toward the $3,260–$3,255 support zone — an area aligned with the critical 100-day SMA. A decisive drop through that zone could act as a fresh catalyst for sellers and open the door to more aggressive moves.
🔁 What if bulls step in?
Any rebound from current levels faces resistance at $3,340. A move above that could extend toward $3,367–$3,368, but unless bulls take out the $3,434–$3,435 ceiling with conviction, the upside remains limited. Only a breakout above that level would invalidate the current bearish bias and open the path toward $3,500 highs — a level last seen in April.
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