Gold Outlook Unchanged: Waiting for a Break Below Support

Mar 10

Friday's NFP turned out to be a non-event, with gold prices remaining stuck in their familiar range between 2,895 and 2,930.

Following the announcement, prices initially spiked to resistance but quickly retreated to the middle of the range by the weekly close.

Looking ahead, my outlook remains unchanged—I expect a break below the 2,895 support level. If this happens, we could see accelerated downside momentum, potentially testing recent lows in the 2,830–2,840 zone.

My strategy also remains the same: selling rallies against the range’s resistance.

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.

Mar 10

Trade closed manually

Closed manually on Break Even