Gold is beginning to show clear signs of a potential bearish phase. The current uptrend is weakening, and a new center of gravity has formed around 3319 on the weekly timeframe. Price is currently moving higher to complete Phase 2, which often precedes a new trend cycle.
A weekly close below 3320, especially after sweeping the upper liquidity zone near 3495, would confirm the start of Phase 3 — historically a trend continuation setup. This suggests that gold could enter a deeper correction phase, potentially resetting for the next bullish leg.
Projected Downside Targets:
Target 1: 3100
Target 2: 3056
Target 3: 2960
Extended Bearish Target: Below 2760 (Accumulation zone for the next uptrend)
This cycle is unfolding on the weekly timeframe, so it may take time to fully develop.
Key Resistance Zones (Sell Interest Areas):
3525–3548: Current resistance zone with signs of profit-taking by large players
3606: Next resistance level
3688: Strong upper resistance where institutional selling interest could intensify
These zones are critical supply areas, and market participants are already showing signs of booking profits around these levels.
A weekly close below 3320, especially after sweeping the upper liquidity zone near 3495, would confirm the start of Phase 3 — historically a trend continuation setup. This suggests that gold could enter a deeper correction phase, potentially resetting for the next bullish leg.
Projected Downside Targets:
Target 1: 3100
Target 2: 3056
Target 3: 2960
Extended Bearish Target: Below 2760 (Accumulation zone for the next uptrend)
This cycle is unfolding on the weekly timeframe, so it may take time to fully develop.
Key Resistance Zones (Sell Interest Areas):
3525–3548: Current resistance zone with signs of profit-taking by large players
3606: Next resistance level
3688: Strong upper resistance where institutional selling interest could intensify
These zones are critical supply areas, and market participants are already showing signs of booking profits around these levels.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.