OIL RISES OVER $110 THEN FALLS – WHAT ABOUT GOLD?Market Context
After the sharp drop earlier this week, gold is now consolidating in a sideways range around 5150 – 5160, with buying interest appearing again near 5060. The short-term trend remains unclear, so the main strategy for now is range trading while observing price reactions at key levels.
During consolidation phases, the market often produces liquidity sweeps with long wicks, so it’s important to avoid chasing price and manage risk carefully.
In addition, this week’s CPI data could trigger strong volatility and help the market determine its next directional move.
Trading Plan
Resistance
5185 – 5195 – 5200 – 5210 – 5260 – 5280
→ Look for SELL opportunities if price retraces into resistance and shows signs of weakness.
Support
5120 – 5092 – 5080 – 5060 – 5020 – 5000 – 4960 – 4930
→ Short-term BUY scalps (5–7 points) can be considered if price reacts positively at nearby support zones.
Key Trading Ideas
The market is currently consolidating in a sideways range, so the focus is on trading the range boundaries.
The 5120 – 5092 area may offer quick BUY scalp opportunities.
Trade the breakout direction:
• Break above 5210 → potential upside expansion toward 5260 – 5280
• Break below 5020 – 5000 → potential downside continuation toward 4960 – 4930
⚠️ Be cautious of liquidity sweeps ahead of the CPI release.
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