Gold Consolidates Below Key Resistance — Awaiting Breakout from

Gold has entered a phase of subdued volatility, currently trading around $3,221/oz. This stands in sharp contrast to the previous week’s triple-digit swings, with recent intraday ranges tightening to under $20 — a sign of market indecision and volatility compression.

From a technical perspective:

$3,245/oz remains a critical resistance level, representing the recent swing high.

Support levels are observed at $3,200, with $3,190 acting as the key bull/bear pivot zone.

🎯 Trading Strategy:

Watch for rejection near $3,245 to consider tactical short positions.

If price retraces and holds above $3,190, look for long opportunities on rebound setups.

In the current range-bound environment, traders are advised to stay patient, avoid overtrading, and wait for a decisive breakout to establish conviction positions.