1. Fakeout & Rejection from Supply
Price faced sharp rejection near the 3,332 resistance. The strong red candle indicates aggressive selling and liquidity grab.
2. Retest of Broken Demand Zone
Gold is now retesting the **3,298–3,305** yellow zone, which previously acted as demand but may now flip to resistance (supply).
3. Bearish Market Structure
The price formed a **lower high and lower low** pattern — a clear sign of downtrend resumption. Current bounce looks corrective.
4. Projection: Potential Drop Ahead
As per the drawn path, if price fails to reclaim above 3,305, a likely drop toward 3,282, then 3,268 is expected.
5. Key Levels to Watch
Resistance: 3,305 → 3,332
Support: 3,282 → 3,268 → 3,246
Bearish bias remains valid below 3,305.
Price faced sharp rejection near the 3,332 resistance. The strong red candle indicates aggressive selling and liquidity grab.
2. Retest of Broken Demand Zone
Gold is now retesting the **3,298–3,305** yellow zone, which previously acted as demand but may now flip to resistance (supply).
3. Bearish Market Structure
The price formed a **lower high and lower low** pattern — a clear sign of downtrend resumption. Current bounce looks corrective.
4. Projection: Potential Drop Ahead
As per the drawn path, if price fails to reclaim above 3,305, a likely drop toward 3,282, then 3,268 is expected.
5. Key Levels to Watch
Resistance: 3,305 → 3,332
Support: 3,282 → 3,268 → 3,246
Bearish bias remains valid below 3,305.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Here is my Telegram channel user name you can Join for Free Analysis and signals t.me/XAUTraderSidS
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.