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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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.