Gold is approaching a critical area on the 1-hour chart. Price is testing a descending resistance trendline that has already rejected buyers several times.
The market is currently caught between two scenarios:
🟢 Bullish scenario
A confirmed breakout above 4,080, followed by a successful retest, could open the way toward 4,120 and then 4,180–4,200.
🔴 Bearish scenario
Another rejection from resistance, combined with a breakdown below the local support area at 3,990–4,000, could trigger a move toward 3,960 and the main support trendline around 3,920–3,940.
The stochastic oscillator has reached the overbought zone and is beginning to turn lower, so entering before confirmation may be premature. The key factor is not the trendline touch itself, but the price reaction and the hourly candle close.
The key level is 4,080. Above it, buyers regain control. Below 4,000, sellers gain the advantage.
Which scenario do you expect: breakout or rejection?
The market is currently caught between two scenarios:
🟢 Bullish scenario
A confirmed breakout above 4,080, followed by a successful retest, could open the way toward 4,120 and then 4,180–4,200.
🔴 Bearish scenario
Another rejection from resistance, combined with a breakdown below the local support area at 3,990–4,000, could trigger a move toward 3,960 and the main support trendline around 3,920–3,940.
The stochastic oscillator has reached the overbought zone and is beginning to turn lower, so entering before confirmation may be premature. The key factor is not the trendline touch itself, but the price reaction and the hourly candle close.
The key level is 4,080. Above it, buyers regain control. Below 4,000, sellers gain the advantage.
Which scenario do you expect: breakout or rejection?
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📊 Follow for daily Market Summary, Technical & Fundamental Analysis
👉 t.me/elibrianalytics
👉 t.me/elibrianalytics
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.