Gold May Undergo Short-Term Correction as USD Rebounds

📊 Market Overview:
Gold (XAU/USD) is trading around $3,320/oz on May 28, 2025, after failing to break above a key resistance zone. The US dollar’s recovery and rising Treasury yields are putting short-term pressure on gold, despite lingering geopolitical tensions.

📉 Technical Analysis:
• Key Resistance: $3,330 – $3,360
• Nearest Support: $3,280 – $3,235
• EMA 09: Price is currently above the EMA 09, indicating that the upward trend remains intact.
• RSI Indicator: RSI stays above the 50 level, suggesting momentum is still bullish.
• Candlestick Pattern: A doji near the $3,330 zone signals market indecision.

📌 Outlook:
Gold may see a mild correction if the USD continues to strengthen. However, holding above $3,280 would keep the bullish momentum alive.

💡 Suggested Trading Strategy:
🔻 SELL XAU/USD at: $3,330
🎯 TP: $3,310 (200 pips)
❌ SL: $3,340
🔺 BUY XAU/USD at: $3,285
🎯 TP: $3,305 (200 pips)
❌ SL: $3,275