Gold oscillating within a range ahead of US NFP data release

Gold prices largely remained subdued between 2890-2924 range ahead of crucial US Non Farm Payroll Data releasing on Friday that could set a new trajectory for the yellow metal. Market participants are closely monitoring any new shift in Trump's tariff policies. A spinning top on the daily timeframe is indicating a possible reversal in the momentum. Additionally, there's a head and shoulder pattern formed on hourly chart of Gold signaling some caution ahead. However weekly trend suggests the yellow metal could move in the positive direction, fueled by a weakening Dollar. A successful breach of 2930 mark would take the prices further up.
Gold Structure: Spinning Top on Daily, Consolidation on 4hr, H&S on 1hr.
Intraday Strategy/ Intraday Trend: Buy on Supports, Sell on Resistance/ Neutral
Weekly Trend: Neutral to Bullish
Major Resistance: 2910, 2917, 2928
Major Support: 2904, 2892, 2887
Recent News
Gold Forms Head and Shoulders Pattern Ke...
March 21, 2025
Market Insights
US Tech 100 Breakout Watch – Bullish Fla...
August 05, 2025
Market Insights
Gold Ignites as Tariff Fears Fuel Safe-H...
April 09, 2025
Market Insights
Dow Jones at Critical Support Flag Forma...
February 28, 2025
Market Insights
Nasdaq 100 Plunges to Critical Support a...
April 07, 2025
Market Insights
GOLD VIEW ON CPI
December 11, 2024
Market Insights