Gold suffered a sharp pullback yesterday, prices dipped rapidly from highs, and market sentiment turned weak in the short term. It then entered a period of sideways consolidation, with bulls and bears trading cautiously. The overall pattern is recovery after a sharp drop, pending a directional breakout.
Technical Analysis
Support Zone: 4660–4680 strong support remains solid
During the decline, the 4660–4680 zone stabilized quickly after multiple retests, with strong buying absorption, forming the core support band. This zone is both a cluster of short-term moving averages and a key recovery platform after yesterday’s sharp drop. As long as it is not effectively broken downward, the bullish structure remains intact.
Secondary Support: Below 4640. A confirmed breakdown of 4660–4680 will open further downside toward levels under 4640.
Resistance & Momentum: Upside momentum weak, rebounds capped
Bullish momentum is currently subdued, and rebounds lack sustained strength, with clear overhead resistance:
First Resistance: 4720–4730 strong near-term hurdle, repeatedly tested without breakout
Second Resistance: 4760 upper boundary of the consolidation range; a volume-driven breakout is needed to unlock further upside
Overall, gold is trading in a range-bound pattern with firm support below but lacking upside momentum, making a sharp one-sided rally or decline unlikely in the short term.
Trading Strategy
Go long on dips near the 4660–4680 support zone. Core logic: solid support, limited downside, and technical recovery demand for bulls.
Entry Zone: 4660–4680
Target Levels: 4690 → 4700 → 4710
Technical Analysis
Support Zone: 4660–4680 strong support remains solid
During the decline, the 4660–4680 zone stabilized quickly after multiple retests, with strong buying absorption, forming the core support band. This zone is both a cluster of short-term moving averages and a key recovery platform after yesterday’s sharp drop. As long as it is not effectively broken downward, the bullish structure remains intact.
Secondary Support: Below 4640. A confirmed breakdown of 4660–4680 will open further downside toward levels under 4640.
Resistance & Momentum: Upside momentum weak, rebounds capped
Bullish momentum is currently subdued, and rebounds lack sustained strength, with clear overhead resistance:
First Resistance: 4720–4730 strong near-term hurdle, repeatedly tested without breakout
Second Resistance: 4760 upper boundary of the consolidation range; a volume-driven breakout is needed to unlock further upside
Overall, gold is trading in a range-bound pattern with firm support below but lacking upside momentum, making a sharp one-sided rally or decline unlikely in the short term.
Trading Strategy
Go long on dips near the 4660–4680 support zone. Core logic: solid support, limited downside, and technical recovery demand for bulls.
Entry Zone: 4660–4680
Target Levels: 4690 → 4700 → 4710
Сделка активна
Сделка закрыта: достигнута тейк-профит цена
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.