Gold is still trading with a bearish overall structure despite the recent recovery from support. Price is struggling around the 4091-4105 resistance area which also lines up with the descending trendline shown on the chart. Unless buyers can break and hold above this zone the current move looks more like a pullback than a new uptrend. A break above the trendline could open the door toward 4120 followed by 4160-4180 but buying momentum still appears limited.
On the downside a rejection from the current resistance could send gold back toward 4050, 4040 and potentially the 3980-3966 support area.
With the Fed interest rate decision on 29 July approaching, gold is likely to remain volatile and may continue trading in a range until the market receives fresh direction.
Trade Plan - Sell Setup
Sell Zone: 4120-4165
Targets: 4105, 4091, 4050, 4040
Extended Target: 3980-3966 (Major H1 Support)
Invalidation: H4 close above 4211. A sustained break above this level would confirm a bullish breakout and could open the door for a move toward 4240-4280.
Trade Plan - Buy Setup
Buy Zone: 4040-4050 (Aggressive buyers can also watch 4091-4105 if price reclaims and holds above this zone)
Targets: 4091, 4105, 4120, 4165
Extended Target: 4211-4240 (Trendline Resistance)
Invalidation: H4 close below 3980. A sustained break below this level would strengthen bearish momentum and could expose 3966 and lower support levels.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
On the downside a rejection from the current resistance could send gold back toward 4050, 4040 and potentially the 3980-3966 support area.
With the Fed interest rate decision on 29 July approaching, gold is likely to remain volatile and may continue trading in a range until the market receives fresh direction.
Trade Plan - Sell Setup
Sell Zone: 4120-4165
Targets: 4105, 4091, 4050, 4040
Extended Target: 3980-3966 (Major H1 Support)
Invalidation: H4 close above 4211. A sustained break above this level would confirm a bullish breakout and could open the door for a move toward 4240-4280.
Trade Plan - Buy Setup
Buy Zone: 4040-4050 (Aggressive buyers can also watch 4091-4105 if price reclaims and holds above this zone)
Targets: 4091, 4105, 4120, 4165
Extended Target: 4211-4240 (Trendline Resistance)
Invalidation: H4 close below 3980. A sustained break below this level would strengthen bearish momentum and could expose 3966 and lower support levels.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
การซื้อขายยังคงดำเนินอยู่
Gold is now trading around 4016 right on the key 4021-4000 support area. The bearish move is progressing well but this is also an important reaction zone. A clean break below 4000 would strengthen the bearish momentum and could open the way towards 3980-3967 followed by 3933. For now sellers remain in control below 4050-4070 while a strong recovery above 4091-4105 would weaken the bearish outlook. Current market data also shows gold under pressure around the 4000 area.
Key Levels to Watch
Resistance: 4040-50, 4070-91
Support: 4000-4015, 3980-3967, 3933
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ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน