Corto

Lingrid | GOLD Bearish Move Expected from Psychological Level

is facing resistance at the 5,000 level above, a significant psychological threshold that has triggered a price pullback. The market recently formed a higher low following the corrective phase, but the bearish structure remains prominent as price action appears to be consolidating below the resistance zone. The rejection from this key level, combined with the ongoing downward pressure, suggests that further declines are likely.

If the price continues to face pressure at the 5,000 mark, it may proceed lower towards the 4,600 area, a support level where a potential reversal could occur. However, until the price breaches the resistance and breaks above this key zone, the bearish trend may persist.

➡️ Primary scenario: Rejection from 5,000 → potential continuation towards 4,600.
⚠️ Risk scenario: A decisive close above 5,000 could signal a shift in trend, opening the door to a move higher towards 5,400.

If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!

Lingrid

🔥 Daily GOLD and Forex updates with 20,000+ active traders:
t.me/LingridChannel
🚀 Daily CRYPTO setups:
bit.ly/3JIGE2j

También en:

Publicaciones relacionadas

Lingrid | GOLD Prolonged Range Phase Following Steep Decline

por Lingrid

Exención de responsabilidad

La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.

Lingrid

🔥 Daily GOLD and Forex updates with 20,000+ active traders:
t.me/LingridChannel
🚀 Daily CRYPTO setups:
bit.ly/3JIGE2j