On the weekly timeframe, gold is trapped in a downward corrective channel with price suppressed by the medium-term moving averages, and the medium-term bearish trend remains intact. The daily Bollinger Bands are sloping downward, while short-term moving averages act as strong overhead resistance. Today’s rally is merely a routine washout rather than a trend reversal.
Near-term overhead resistance lies between 4010 and 4030, marking the key intraday resistance zone. Further up, 4060–4080 represents the peak range for this corrective bounce. Bearish pressure will only ease if prices firmly break and hold above 4120.
Immediate intraday support sits at 3980–3990, the primary defense level against pullbacks. The major recent low support zone is 3940–3960; a decisive break below this range will unlock
further downside potential.
Trading bias: Sell on bounces, avoid chasing long positions blindly.
Short entry: 4010–4030
Target: 3970–3980
Near-term overhead resistance lies between 4010 and 4030, marking the key intraday resistance zone. Further up, 4060–4080 represents the peak range for this corrective bounce. Bearish pressure will only ease if prices firmly break and hold above 4120.
Immediate intraday support sits at 3980–3990, the primary defense level against pullbacks. The major recent low support zone is 3940–3960; a decisive break below this range will unlock
further downside potential.
Trading bias: Sell on bounces, avoid chasing long positions blindly.
Short entry: 4010–4030
Target: 3970–3980
Trade attivo
Trade chiuso: obiettivo raggiunto
Maintain a calm mindset to go far and steady. I make consistent profits every week. Click the link, and let us move forward steadily together.
t.me/+_C-IDtbpGGgxMjg5
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Maintain a calm mindset to go far and steady. I make consistent profits every week. Click the link, and let us move forward steadily together.
t.me/+_C-IDtbpGGgxMjg5
t.me/+_C-IDtbpGGgxMjg5
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.