Gold Is Still Below Resistance… But Sellers Are Losing Momentum
Last week may have looked volatile at first glance, with Gold swinging roughly 1,500 pips, but beneath the surface the market was surprisingly balanced.
For most of the week, Gold kept gravitating back to an equilibrium zone just above the 4000 level, suggesting that neither buyers nor sellers have managed to seize full control.
Friday offered another good example of that balance.
Gold briefly printed a fresh weekly low around 3960, only to reverse throughout the session and finish the week back near 4020.
That kind of recovery tells us one thing:
Buyers are still willing to step in on weakness.
At the same time, every meaningful rally continues to attract sellers, leaving Gold stuck in what has become a frustrating tug of war.
So, despite ongoing tensions in Iran and persistent inflation concerns, the market still refuses to commit to a clear direction.
The headlines may be dramatic, but price action remains remarkably disciplined.
Technically, Gold is still trading below the descending trendline that has guided the market lower over the past few weeks.
However, there is an interesting detail.
Every trendline loses strength the more often it is tested, and this one has now been challenged multiple times over the past two weeks without producing a significant acceleration to the downside.
That doesn't guarantee a breakout.
But it does suggest that sellers may be gradually losing their edge.
Trading View
For now, I remain slightly bullish.
Not because Gold has already reversed, but because I believe the downside is becoming increasingly difficult to extend.
My trigger remains straightforward.
A decisive break and sustained move above the descending trendline would significantly increase my confidence in the bullish scenario and open the door to a larger recovery.
For most of the week, Gold kept gravitating back to an equilibrium zone just above the 4000 level, suggesting that neither buyers nor sellers have managed to seize full control.
Friday offered another good example of that balance.
Gold briefly printed a fresh weekly low around 3960, only to reverse throughout the session and finish the week back near 4020.
That kind of recovery tells us one thing:
Buyers are still willing to step in on weakness.
At the same time, every meaningful rally continues to attract sellers, leaving Gold stuck in what has become a frustrating tug of war.
So, despite ongoing tensions in Iran and persistent inflation concerns, the market still refuses to commit to a clear direction.
The headlines may be dramatic, but price action remains remarkably disciplined.
Technically, Gold is still trading below the descending trendline that has guided the market lower over the past few weeks.
However, there is an interesting detail.
Every trendline loses strength the more often it is tested, and this one has now been challenged multiple times over the past two weeks without producing a significant acceleration to the downside.
That doesn't guarantee a breakout.
But it does suggest that sellers may be gradually losing their edge.
Trading View
For now, I remain slightly bullish.
Not because Gold has already reversed, but because I believe the downside is becoming increasingly difficult to extend.
My trigger remains straightforward.
A decisive break and sustained move above the descending trendline would significantly increase my confidence in the bullish scenario and open the door to a larger recovery.
İşlem aktif
Gold is challenging resistance again4090 could be the first target if it breaks
İşlem kapandı: hedefe ulaştı
First resistance zone reached
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.