Gold has just delivered a sharp rejection from the upper boundary of the rising channel, showing that sellers are still active around the 4590 area.
The impulsive drop from the recent high suggests short-term momentum has weakened, and price is now moving into a more sensitive reaction zone.
At this stage, the market is not giving a clean trend continuation yet.
Instead, it is approaching an area where both buyers and sellers may react strongly, which makes the next move especially important.
Key zones to monitor
4590 – 4600 → liquidity / sell reaction zone
4538 – 4542 → first bullish order block / short-term support
4415 – 4400 → deeper buy swing zone / major reaction area
Main scenario
If gold continues to hold above 4538 – 4542,
the market may attempt a short-term rebound back toward 4590.
That would be a natural retest after the recent selloff, and this upper zone remains the key area where sellers may try to step in again.
As long as price stays below 4590 – 4600,
the current rebound should still be treated cautiously as a reaction rather than a confirmed recovery.
Alternative scenario
If price fails to hold the 4538 – 4542 order block,
then the downside may extend toward the deeper 4415 – 4400 buy swing zone.
This lower area is much more important structurally and could become the next serious reaction point for buyers if weakness continues.
Market view
The current structure suggests that gold is moving from impulsive selling into a reaction phase.
That means the best opportunities may come not from chasing price, but from watching how the market behaves at the zones already marked on the chart.
For now, the key idea is simple:
Hold 4538 – 4542 → rebound remains possible
Lose 4538 – 4542 → price may rotate deeper into 4415 – 4400
Fail at 4590 – 4600 → sellers regain short-term control
Final note
This is a market that needs confirmation.
The structure is no longer as bullish as it was inside the channel, but it is also not yet in a clean breakdown unless support gives way.
For Cecilia’s view today:
I am watching reaction first, then direction.
The cleaner trade will come from how gold responds at support and whether the market can reclaim the upper sell zone with conviction.
Pubblicazioni correlate
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Pubblicazioni correlate
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.