Gold facing resistance—possible breakdown ahead?

189
Gold is trading around 4,700 – 4,740 on H2 after failing to sustain momentum near recent highs.

At first glance, price looks like a normal pullback. But structurally, this could be the start of a deeper liquidity move.

🌍 Market Context

• USD remains stable as inflation expectations stay elevated • Oil prices still supported by Hormuz risk → keeps inflation pressure alive • Market shifting focus toward upcoming US PPI and Fed signals

👉 This creates short-term pressure on gold despite geopolitical support.

📊 Technical Structure (H2)

• Price is forming lower highs under a descending trendline • Rejection from 4,766 resistance zone • Current move looks like a pullback after liquidity grab (FVG area)

👉 Structure is slowly shifting bearish in the short term

📌 Key Levels

🔴 Resistance: 4,766 🟢 Mid Support: 4,648 – 4,613 🟢 Major Demand: 4,558

⚡ Scenario Planning Bearish Scenario (Primary)

If price fails to reclaim 4,701 – 4,766 zone:

→ Continuation lower → Sweep liquidity toward 4,613 → 4,558 demand

Bullish Scenario (Alternative)

If price breaks and holds above 4,766:

→ Structure invalidates bearish view → Potential push toward higher resistance zones

🧠 Market Insight

This is not a strong trend continuation.

It’s a rejection → pullback → decision phase

👉 Smart money likely targeting liquidity below before the next move.

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.