Gold is currently trading at a critical resistance zone following a strong bearish impulse and a sharp corrective rebound from the 4310 area.
The overall market structure remains bearish, with price still respecting the descending trendline. The recent bullish move appears to be a retracement rather than a confirmed reversal, as long as price remains below the 4570 resistance level.
This zone (4540 – 4570) is a key decision area where price previously showed strong reactions. A rejection from this level could confirm continuation of the downtrend, with potential targets at 4450 and 4310.
On the other hand, a clean breakout and sustained close above 4570, followed by a successful retest, would indicate a possible shift in market structure and open the door for higher prices toward 4650 and beyond.
Traders should remain patient and wait for confirmation, as the market is currently at a pivotal point where both scenarios are valid.
What is your bias on gold at this level ? Is this a continuation of the downtrend or the beginning of a reversal ?
The overall market structure remains bearish, with price still respecting the descending trendline. The recent bullish move appears to be a retracement rather than a confirmed reversal, as long as price remains below the 4570 resistance level.
This zone (4540 – 4570) is a key decision area where price previously showed strong reactions. A rejection from this level could confirm continuation of the downtrend, with potential targets at 4450 and 4310.
On the other hand, a clean breakout and sustained close above 4570, followed by a successful retest, would indicate a possible shift in market structure and open the door for higher prices toward 4650 and beyond.
Traders should remain patient and wait for confirmation, as the market is currently at a pivotal point where both scenarios are valid.
What is your bias on gold at this level ? Is this a continuation of the downtrend or the beginning of a reversal ?
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.