Gold Finds Support Below 4300 – But Bulls Still Have Work to Do.
Yesterday, after a double dip below the 4300 zone, Gold finally found buyers and staged a recovery toward the 4350 resistance area.
Honestly, after last week's nearly 2000-pip sell-off, such a rebound was perfectly normal and even healthy from a market structure perspective.
The important question, however, is not whether Gold can bounce.
The important question is whether the bounce changes the trend.
And from my perspective, the answer is still no.
Looking closely at the chart, the recovery appears corrective rather than impulsive. The market is climbing, but it lacks the type of aggressive buying pressure that would normally signal a genuine trend reversal.
On the very short term, a small Head & Shoulders pattern is visible, and yes, a break above the 4350 neckline could trigger another push higher.
However, even if that happens, I believe the upside remains limited unless buyers can do something much more important:
➡️ reclaim and hold above the 4400 zone.
Until that happens, I continue to view rallies as corrections inside a broader bearish trend rather than the start of a new bullish phase.
Trading View
My view remains unchanged:
➡️ Bearish
➡️ Selling rallies remains my preferred strategy
Only sustained buying pressure and acceptance above the 4400 area would make me reconsider that outlook.
Until then, for me, Gold still looks like a market catching its breath rather than changing direction
Honestly, after last week's nearly 2000-pip sell-off, such a rebound was perfectly normal and even healthy from a market structure perspective.
The important question, however, is not whether Gold can bounce.
The important question is whether the bounce changes the trend.
And from my perspective, the answer is still no.
Looking closely at the chart, the recovery appears corrective rather than impulsive. The market is climbing, but it lacks the type of aggressive buying pressure that would normally signal a genuine trend reversal.
On the very short term, a small Head & Shoulders pattern is visible, and yes, a break above the 4350 neckline could trigger another push higher.
However, even if that happens, I believe the upside remains limited unless buyers can do something much more important:
➡️ reclaim and hold above the 4400 zone.
Until that happens, I continue to view rallies as corrections inside a broader bearish trend rather than the start of a new bullish phase.
Trading View
My view remains unchanged:
➡️ Bearish
➡️ Selling rallies remains my preferred strategy
Only sustained buying pressure and acceptance above the 4400 area would make me reconsider that outlook.
Until then, for me, Gold still looks like a market catching its breath rather than changing direction
Trade fechado: objetivo atingido
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🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.