Looking at the chart, gold is being compressed inside a descending triangle, with the falling resistance line forcing price to form a series of lower highs. Meanwhile, the 4,015–4,020 area remains an important horizontal support that has held price several times.
What stands out is that the current rebound is approaching the descending trendline, but buying pressure still does not appear strong enough to break the structure. If price is rejected again around 4,065–4,075, sellers could return and push gold back toward the lower boundary of the triangle.
My preferred approach is to look for selling opportunities if signs of weakness appear near the resistance line. The initial target is the 4,015–4,020 support zone. If this area breaks, the decline could extend further.
On the other hand, if gold breaks clearly above the descending trendline and maintains bullish momentum, the descending triangle pattern will be invalidated. In that case, price could recover toward the 4,090–4,100 area.
This is only my personal view based on technical analysis. Wishing you successful trading!
What stands out is that the current rebound is approaching the descending trendline, but buying pressure still does not appear strong enough to break the structure. If price is rejected again around 4,065–4,075, sellers could return and push gold back toward the lower boundary of the triangle.
My preferred approach is to look for selling opportunities if signs of weakness appear near the resistance line. The initial target is the 4,015–4,020 support zone. If this area breaks, the decline could extend further.
On the other hand, if gold breaks clearly above the descending trendline and maintains bullish momentum, the descending triangle pattern will be invalidated. In that case, price could recover toward the 4,090–4,100 area.
This is only my personal view based on technical analysis. Wishing you successful trading!
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⚡ Forex • Gold • Crypto
Decoding smart money moves through volume and market structure.
🎯 Daily Analysis
📚 Free Trading Plans
🤝 Trader Community
👇 Grow with us:
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Decoding smart money moves through volume and market structure.
🎯 Daily Analysis
📚 Free Trading Plans
🤝 Trader Community
👇 Grow with us:
t.me/+cbzs1eaU0r5lOTM1
関連の投稿
免責事項
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