Hi!
Gold has shown clear signs of weakening after failing to sustain its push toward the recent highs. The market engulfed the last major low before the top, signaling a structural shift, and has already broken below the secondary ascending trendline. This confirms that bullish momentum is fading.
Price is currently retesting the first demand zone, but if buyers fail to hold this level, the chart suggests a potential continuation to the downside. The key level to watch is the horizontal support around $4,000. A clean break below this zone would likely open the door for a deeper move toward the major demand area highlighted around $3,560 – $3,520.
As long as Gold remains below the broken structure and fails to reclaim the upper zone, the broader bias leans bearish, with lower highs forming and liquidity sitting below.
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
Gold has shown clear signs of weakening after failing to sustain its push toward the recent highs. The market engulfed the last major low before the top, signaling a structural shift, and has already broken below the secondary ascending trendline. This confirms that bullish momentum is fading.
Price is currently retesting the first demand zone, but if buyers fail to hold this level, the chart suggests a potential continuation to the downside. The key level to watch is the horizontal support around $4,000. A clean break below this zone would likely open the door for a deeper move toward the major demand area highlighted around $3,560 – $3,520.
As long as Gold remains below the broken structure and fails to reclaim the upper zone, the broader bias leans bearish, with lower highs forming and liquidity sitting below.
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
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🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.