Gold is holding below its 2025 trend line on a weekly closing basis as mentioned this morning in friday session dropped back below the level, but there's a BSSP at $3,341.
The arrow represents one possible scenario if gold stays below $3,340 on the high time frames. It's not a prediction.
The DXY also needs to hold above 97.10 for this to materialize.
Take your time with these markets. It's difficult to be a dollar bull right now and tomorrow is a US holiday. Let the price action dictate what's likely. No need to FOMO into anything.
Lastly, the better option here is to see gold close Thursday below $3,340 before we get this retest. Not sure we'll get that though.
.Barring something crazy in the final hours, gold will close today as a bearish engulfing.
Looking for the $3,341 imbalance to fill following Thursday's close. From there it's just a range trade with $3,265 support, followed by $3,207.
A daily/weekly close above $3,350 would invalidate the idea.