Gold is currently showing signs of bullish recovery after a strong bearish expansion, with price reacting from a key Point of Interest (POI) near the 5,050 region.
After the earlier Change of Character (CHOCH), the market delivered a sharp sell-off before finding demand and beginning a gradual recovery. Price then formed a short-term upward channel, indicating accumulation and weakening bearish momentum.
Recently, price retraced into a H1 Order Block (H1-OB) aligned with a 4H Fair Value Gap (4H-FVG). This confluence zone is acting as a support area, suggesting that buyers may step in to drive the next move.
As long as price holds above this Order Block support, the market may continue expanding toward the next liquidity target, which sits inside the higher-timeframe Supply Area around 5,220 – 5,250.
Key levels to watch:
• Support: H1 Order Block / 4H FVG zone
• Target: Resistance within the Supply Area
• Structure trigger: Break above recent highs for continuation
Overall, the market appears to be building momentum for a potential move toward the higher supply zone, provided the current support structure remains intact.
After the earlier Change of Character (CHOCH), the market delivered a sharp sell-off before finding demand and beginning a gradual recovery. Price then formed a short-term upward channel, indicating accumulation and weakening bearish momentum.
Recently, price retraced into a H1 Order Block (H1-OB) aligned with a 4H Fair Value Gap (4H-FVG). This confluence zone is acting as a support area, suggesting that buyers may step in to drive the next move.
As long as price holds above this Order Block support, the market may continue expanding toward the next liquidity target, which sits inside the higher-timeframe Supply Area around 5,220 – 5,250.
Key levels to watch:
• Support: H1 Order Block / 4H FVG zone
• Target: Resistance within the Supply Area
• Structure trigger: Break above recent highs for continuation
Overall, the market appears to be building momentum for a potential move toward the higher supply zone, provided the current support structure remains intact.
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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.