Short-Term Gold Price Forecast: Key Levels and Market Outlook – May 2025
As we move into the first full week of May 2025, gold continues to be under pressure following a failed breakout near $3,500. The market is currently undergoing a technical correction, offering both shorting opportunities for active traders and potential buy zones for patient bulls.
Gold Market Mid-Term Technical Outlook
The recent rejection at the $3,500 resistance zone triggered a series of selling waves, confirming that the short-term rally has likely reached exhaustion. Currently, gold is trading below $3,300 on the hourly chart (H1), with visible signs of flagging and consolidation—a classic sign of profit-taking before another leg down.
Key Resistance & Support Levels:
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✨ $3,285: Major short-term resistance
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✨ $3,155: Immediate downside target and potential support
According to the H1 chart structure, $3,285 stands out as a clean level for bearish re-entry. Sellers continue to defend this zone aggressively, and it aligns with a prior supply zone and short-term trendline resistance. Any rebound toward this level may present a fresh opportunity for short trades.
On the other hand, the $3,155 area marks a likely support zone. Bears are likely to drive prices toward this level, especially if risk appetite returns to broader markets. Once this pullback finds a floor, bulls could begin to re-enter in anticipation of another attempt toward the upper range.
Market Summary – May 5, 2025
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Ongoing correction below $3,300
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Multiple waves of selling in progress
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$3,285 is the active short level
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$3,155 is the next target for bears
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Bulls should wait for confirmed support before buying
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Conclusion
The short-term gold outlook remains bearish until price action proves otherwise. While sellers dominate below $3,285, bulls should monitor $3,155 closely as a likely inflection point. With the right strategy and tools, this correction offers significant opportunity on both sides of the market.
For up-to-date chart analysis, visit: TradingView Gold Chart
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