GOLD — Bearish Momentum Below 5035
Gold prices remained near $5,000 per ounce after two consecutive weeks of decline. Rising oil prices and escalating geopolitical tensions, following the U.S. strike on Iran’s key oil-export hub Kharg Island, continue to influence market sentiment.
Technical Outlook
• Gold remains under bearish pressure while trading below 5035.
• A possible retest toward 5035 may occur before continuation lower toward 4987 and 4961.
• A 1H candle close below 4961 would extend the decline toward 4893.
However, a 1H close above 5054 would invalidate the bearish scenario and open the upside toward 5091.
Pivot Line: 5035
Support: 4987 – 4961 – 4893
Resistance: 5054 – 5091 – 5121
previous idea:
Gold prices remained near $5,000 per ounce after two consecutive weeks of decline. Rising oil prices and escalating geopolitical tensions, following the U.S. strike on Iran’s key oil-export hub Kharg Island, continue to influence market sentiment.
Technical Outlook
• Gold remains under bearish pressure while trading below 5035.
• A possible retest toward 5035 may occur before continuation lower toward 4987 and 4961.
• A 1H candle close below 4961 would extend the decline toward 4893.
However, a 1H close above 5054 would invalidate the bearish scenario and open the upside toward 5091.
Pivot Line: 5035
Support: 4987 – 4961 – 4893
Resistance: 5054 – 5091 – 5121
previous idea:
Technical & Macro Market Analyst specializing in Gold, U.S. Indices, and Forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
منشورات ذات صلة
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.
Technical & Macro Market Analyst specializing in Gold, U.S. Indices, and Forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
منشورات ذات صلة
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.