Looking at the chart, gold has made a fairly strong recovery but has still failed to break above the descending trendline extending from the previous highs. Each time price approaches this area, selling pressure quickly appears, showing that sellers continue to control the upper price zone.
What stands out is that price has reacted from the descending trendline and begun to lose momentum immediately after testing this dynamic resistance. If selling pressure continues to increase, gold could correct toward the 4,035–4,040 support zone to test buying interest before determining its next direction.
My preferred approach is to look for selling opportunities while price remains below the descending trendline. The target is the 4,035–4,040 support area, where buyers may create a short-term reaction.
If price breaks decisively above the trendline and holds above it, the bearish scenario will no longer be valid, as this would indicate that bullish momentum has returned.
This is only my personal view based on technical analysis. Wishing you successful trading!
What stands out is that price has reacted from the descending trendline and begun to lose momentum immediately after testing this dynamic resistance. If selling pressure continues to increase, gold could correct toward the 4,035–4,040 support zone to test buying interest before determining its next direction.
My preferred approach is to look for selling opportunities while price remains below the descending trendline. The target is the 4,035–4,040 support area, where buyers may create a short-term reaction.
If price breaks decisively above the trendline and holds above it, the bearish scenario will no longer be valid, as this would indicate that bullish momentum has returned.
This is only my personal view based on technical analysis. Wishing you successful trading!
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Turning charts into opportunities.
🔍 Volume Analysis
📈 Trend Forecasts
💡 Free Trading Ideas
🌍 Join our growing community:
t.me/+f_vI675IPrQ2N2Q1
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📊 FX | Gold | Crypto
Turning charts into opportunities.
🔍 Volume Analysis
📈 Trend Forecasts
💡 Free Trading Ideas
🌍 Join our growing community:
t.me/+f_vI675IPrQ2N2Q1
Turning charts into opportunities.
🔍 Volume Analysis
📈 Trend Forecasts
💡 Free Trading Ideas
🌍 Join our growing community:
t.me/+f_vI675IPrQ2N2Q1
Powiązane publikacje
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.