As of Monday, 18/5/2026 at 21:30 UTC+7, the gold chart has shifted its internal market structure to bullish. Our targets are 4615, 4678, and 4712. These price levels are significant because there is a condensed buy volume at 4615, and the Delta volume average is beginning to increase at 4678.
Considering last week's COT report, both Non-Commercial and Commercial traders showed a buy bias. However, since the price dropped beforehand, this indicates that they are still trapped in buy positions at 4712.
Nevertheless, the market climax is still a 'Strong Sell,' meaning an upward move will face heavy resistance. On the bright side, buy position accumulation has started in this area. It is highly possible that we will see a price hunt/shakeout to the downside to sweep a liquidity pool before the actual move up. Additionally, since there is still a residual huge sell volume (Futures) from the CME market, the price could potentially drop further.
Considering last week's COT report, both Non-Commercial and Commercial traders showed a buy bias. However, since the price dropped beforehand, this indicates that they are still trapped in buy positions at 4712.
Nevertheless, the market climax is still a 'Strong Sell,' meaning an upward move will face heavy resistance. On the bright side, buy position accumulation has started in this area. It is highly possible that we will see a price hunt/shakeout to the downside to sweep a liquidity pool before the actual move up. Additionally, since there is still a residual huge sell volume (Futures) from the CME market, the price could potentially drop further.
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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.
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.