After two consecutive doji candles on the monthly chart, there is a possibility of a third doji forming in July. This pattern indicates that neither buyers nor sellers have fully taken control. Considering the sharp rise in gold prices over recent quarters and new historical highs, this price pattern seems logical and natural.
Although there was a slight rebound on Tuesday, after four days of decline, New York gold futures are still trying to hold the 50-day moving average support at $3,365.
This support level is expected to break today, as the US dollar index remains strong after rising more than 1% on Monday. 
This week’s candle isn’t very strong, indicating potential selling pressure that could start with a break below the $3,357 support, triggering a new selling wave.
On the other hand, if the price breaks the $3,402 resistance, the upward trend may continue, as the price is currently below the 9-day moving average resistance at $3,381.
