Following a strong bullish rally into the 4160 resistance area, gold was unable to sustain its upward momentum and experienced a sharp rejection from the highs.
This rejection triggered renewed selling pressure, with a sequence of strong bearish candles breaking the short-term bullish market structure. As a result, sellers have regained near-term control, forming a Lower High (LH) below the 4145 resistance before the current corrective move.
The first key area I am monitoring is the 4023–4029 support zone. Price has already reacted from this level, producing a modest bounce back toward the 4030 region.
As long as this support continues to hold, a short-term technical rebound remains possible before the market commits to its next directional move.
If buyers manage to extend the recovery, two important resistance areas should be monitored closely:
- 4045–4050: Initial resistance where sellers may begin to re-enter the market.
- 4060–4065: A major supply/resistance zone. This area previously acted as support before breaking lower and could now serve as resistance.
At this stage, any upward movement is still considered a corrective pullback rather than the start of a confirmed bullish reversal.
My primary focus will be the price reaction around the 4049–4053 and 4060–4065 resistance zones. If bearish price action develops—such as rejection wicks, bearish engulfing candles, or signs of fading bullish momentum—I will look for SELL opportunities.
On the downside, the first target remains the 4023 support area, followed by the major Demand Zone at 4000–4001. This demand zone represents the most significant short-term support, as it previously generated strong buying interest that fueled the rally from 4000 to 4145.
The market’s reaction at this level will likely determine whether buyers can regain control and initiate another recovery, or whether sellers will drive price into a deeper bearish continuation.
This rejection triggered renewed selling pressure, with a sequence of strong bearish candles breaking the short-term bullish market structure. As a result, sellers have regained near-term control, forming a Lower High (LH) below the 4145 resistance before the current corrective move.
The first key area I am monitoring is the 4023–4029 support zone. Price has already reacted from this level, producing a modest bounce back toward the 4030 region.
As long as this support continues to hold, a short-term technical rebound remains possible before the market commits to its next directional move.
If buyers manage to extend the recovery, two important resistance areas should be monitored closely:
- 4045–4050: Initial resistance where sellers may begin to re-enter the market.
- 4060–4065: A major supply/resistance zone. This area previously acted as support before breaking lower and could now serve as resistance.
At this stage, any upward movement is still considered a corrective pullback rather than the start of a confirmed bullish reversal.
My primary focus will be the price reaction around the 4049–4053 and 4060–4065 resistance zones. If bearish price action develops—such as rejection wicks, bearish engulfing candles, or signs of fading bullish momentum—I will look for SELL opportunities.
On the downside, the first target remains the 4023 support area, followed by the major Demand Zone at 4000–4001. This demand zone represents the most significant short-term support, as it previously generated strong buying interest that fueled the rally from 4000 to 4145.
The market’s reaction at this level will likely determine whether buyers can regain control and initiate another recovery, or whether sellers will drive price into a deeper bearish continuation.
Saratoshi Group
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
Saratoshi Group
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.