Gold (XAU/USD) is trading inside a rising wedge while respecting a higher-timeframe descending trendline, keeping the broader bias bearish. Price is struggling below the 0.618 Fibonacci level (4,068.82) after reclaiming the 0.5 Fibonacci level (4,053.07), showing that buyers are losing momentum.
The recent Change of Character (CHoCH) marked a shift in market structure, but the recovery lacks strong bullish follow-through. As long as price remains below the descending trendline, sellers retain control.
A confirmed break below 4,053 would invalidate the short-term bullish structure and likely trigger a move toward the first demand zone around 3,960–3,975. If bearish momentum accelerates, the next downside target is the major demand zone at 3,925–3,940.
On the bullish side, buyers must break and close above both the descending trendline and 4,068–4,070 to regain momentum. Until then, rallies into resistance may continue to attract sellers.
Key Levels
Resistance: 4,068 → 4,100 → 4,130
Support: 4,053 → 3,975 → 3,935
Bias: Bearish below 4,068, targeting 3,975 and 3,935.
The recent Change of Character (CHoCH) marked a shift in market structure, but the recovery lacks strong bullish follow-through. As long as price remains below the descending trendline, sellers retain control.
A confirmed break below 4,053 would invalidate the short-term bullish structure and likely trigger a move toward the first demand zone around 3,960–3,975. If bearish momentum accelerates, the next downside target is the major demand zone at 3,925–3,940.
On the bullish side, buyers must break and close above both the descending trendline and 4,068–4,070 to regain momentum. Until then, rallies into resistance may continue to attract sellers.
Key Levels
Resistance: 4,068 → 4,100 → 4,130
Support: 4,053 → 3,975 → 3,935
Bias: Bearish below 4,068, targeting 3,975 and 3,935.
Trade chiuso: obiettivo raggiunto
target achieved successfully
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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.