Gold Price Forecast: Rejection at $2,900 Signals Further Decline

27 Feb

🔹Gold (XAU/USD) Technical Analysis – 27th February 2025

▪️ Market Overview:
The chart represents a 1-hour timeframe of Gold (XAU/USD) CFDs. The market is currently trading around $2,891.698, showing slight bearish momentum with a 0.02% decline.

▪️ Key Levels
- Resistance Area: $2,900 - $2,902
- Target Area (Support Level): $2,873 - $2,875

▪️Price Action & Trend Analysis:
- The market recently tested the highlighted resistance area (red zone) but failed to break above it.
- A rejection from this zone suggests potential further downside movement.
- The price is currently making lower highs and lower lows, indicating a short-term bearish trend.

▪️ Trade Setup & Projection
- Potential Retracement: Price might retest the resistance area ($2,900-$2,902) before continuing downward.
- Bearish Confirmation: If the price fails to break above the resistance, it could drop towards the target area ($2,873-$2,875) as marked in the chart.
- Entry Idea: A sell opportunity may arise if price rejects resistance again with strong bearish candlestick patterns.

▪️ Indicators & Confirmation:
- The market structure favors sellers as it remains below the resistance zone.
- No visible bullish reversal signs yet, reinforcing the bearish outlook.

▪️ Conclusion:
Gold appears to be in a short-term downtrend, with $2,900 acting as a strong resistance. If price maintains below this level, a move towards $2,873-$2,875 is likely. Traders should look for confirmations near the resistance area before entering positions.

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27 Feb

Pesanan dibatalkan

price hit our targets, without entering our selling zone.