🚩Market Structure Analysis
The H1 gold market is currently showing a fairly clear downtrend, with a continuous pattern of lower highs and lower lows. The price is moving closely along the downward-sloping EMA lines, indicating that selling pressure is dominant and shows no significant signs of weakening.
Notably, the 4.49x support level, previously a crucial support, has been broken and is now a strong resistance zone. After confirming the breakdown, the price fell sharply to the 4100 area. Any rebounds are mostly technical in nature, likely just pullbacks before continuing the main trend.
In this context, the preferred scenario remains selling in line with the trend. The near-term target could be the 4.02x area, and further down to the 3.90x area – considered a strong support zone on the D1 timeframe.
📈Key Levels
Support: 4027-3907
Resistance: 4327-4496
Trade at support and resistance levels, waiting for a clear price reaction. Trade with optimal risk-reward ratio and always set a stop loss for all orders.
The H1 gold market is currently showing a fairly clear downtrend, with a continuous pattern of lower highs and lower lows. The price is moving closely along the downward-sloping EMA lines, indicating that selling pressure is dominant and shows no significant signs of weakening.
Notably, the 4.49x support level, previously a crucial support, has been broken and is now a strong resistance zone. After confirming the breakdown, the price fell sharply to the 4100 area. Any rebounds are mostly technical in nature, likely just pullbacks before continuing the main trend.
In this context, the preferred scenario remains selling in line with the trend. The near-term target could be the 4.02x area, and further down to the 3.90x area – considered a strong support zone on the D1 timeframe.
📈Key Levels
Support: 4027-3907
Resistance: 4327-4496
Trade at support and resistance levels, waiting for a clear price reaction. Trade with optimal risk-reward ratio and always set a stop loss for all orders.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.