📊 Technical Analysis
● XAU/USD formed a medium-term distribution after a sharp rally, with a double top and head-and-shoulders structure signaling trend exhaustion. The violent rejection from the upper resistance zone confirms strong selling interest.
● Price has broken back below the rising structure and is retesting former support near 4,700–4,650, where a weak rebound suggests corrective consolidation before further downside toward the lower trendline around 4,500.
💡 Fundamental Analysis
● Persistently high US yields and resilient US macro data reduce safe-haven demand for gold, reinforcing a medium-term corrective bias.
✨ Summary
● Bearish reversal confirmed from major resistance.
● Medium-term downside toward 4,700 → 4,500 is favored while below 5,000.
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● XAU/USD formed a medium-term distribution after a sharp rally, with a double top and head-and-shoulders structure signaling trend exhaustion. The violent rejection from the upper resistance zone confirms strong selling interest.
● Price has broken back below the rising structure and is retesting former support near 4,700–4,650, where a weak rebound suggests corrective consolidation before further downside toward the lower trendline around 4,500.
💡 Fundamental Analysis
● Persistently high US yields and resilient US macro data reduce safe-haven demand for gold, reinforcing a medium-term corrective bias.
✨ Summary
● Bearish reversal confirmed from major resistance.
● Medium-term downside toward 4,700 → 4,500 is favored while below 5,000.
-------------------
Share your opinion in the comments and support the idea with a like. Thanks for your support!
Trade active
📊 Technical Analysis
● XAU/USD remains capped by a descending resistance line after a sharp impulsive sell-off, with the latest rebound failing near 4,950–5,000. This rejection confirms that bullish attempts are corrective rather than trend-changing.
● Price structure favors continuation lower, as the recovery unfolds within a rising corrective wedge. A break below 4,760 would expose the next support zones near 4,600 and 4,500, aligned with prior demand and the broader bearish wave.
💡 Fundamental Analysis
● Sustained USD strength and elevated US yields continue to pressure gold, limiting upside as markets reassess rate-cut timing.
✨ Summary
● Gold remains below key descending resistance.
● Short-term downside toward 4,760 → 4,600 is favored while below 5,000.
-------------------
Share your opinion in the comments and support the idea with a like. Thanks for your support!
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🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
t.me/DeGRAMCrypto
Related publications
Disclaimer
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90% accuracy in telegram
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
t.me/DeGRAMCrypto
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
t.me/DeGRAMCrypto
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.