📈 1. Trend : Market Structure
Gold remains in a medium-term downtrend after breaking below 4.70x+.
EMA stays under EMA89 → bearish momentum dominates.
Current structure: Lower High + Lower Low.
The completed 5-wave Elliott decline suggests a possible ABC corrective rebound.
👉 Main trend remains bearish, with a short-term recovery underway.
📊 2. Price Action : Momentum
Price rebounded from 4.46x → 4.54x.
RSI 57–60 → improving momentum, not overbought.
Price is approaching EMA89 + supply zone, increasing rejection risk.
👉 Above 4.59x → recovery may extend.
👉 Rejection → bearish trend likely resumes.
📌 3. Key Levels
🔴 Resistance:
4,585 – 4,590 → break = potential move to 4.63x
4,635 – 4,640 → major resistance (EMA89)
🔵 Support:
4,505 – 4,500 → break = retest 4.46x–4.45x
4,450 – 4,440 → major support zone
Gold remains in a medium-term downtrend after breaking below 4.70x+.
EMA stays under EMA89 → bearish momentum dominates.
Current structure: Lower High + Lower Low.
The completed 5-wave Elliott decline suggests a possible ABC corrective rebound.
👉 Main trend remains bearish, with a short-term recovery underway.
📊 2. Price Action : Momentum
Price rebounded from 4.46x → 4.54x.
RSI 57–60 → improving momentum, not overbought.
Price is approaching EMA89 + supply zone, increasing rejection risk.
👉 Above 4.59x → recovery may extend.
👉 Rejection → bearish trend likely resumes.
📌 3. Key Levels
🔴 Resistance:
4,585 – 4,590 → break = potential move to 4.63x
4,635 – 4,640 → major resistance (EMA89)
🔵 Support:
4,505 – 4,500 → break = retest 4.46x–4.45x
4,450 – 4,440 → major support zone
Trade active
XAU touch 4512 and recover , sideway 
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💠 Trend analysis: XAU, BTC, Currency,...
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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.
MOON | Forex Academy hopes to bring the best experience to the Forex community
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠My channel:
" t.me/+wmcIWR0hqD5mYjhl "
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠My channel:
" t.me/+wmcIWR0hqD5mYjhl "
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.