Gold (XAU/USD) has recently tested a key resistance zone around $2,990, where price action is showing signs of rejection. The market made a strong bullish push, but the momentum appears to be fading near this supply zone.
📉 Possible Scenario:
A bearish reaction from this resistance level could lead to a retracement towards the next key demand zone between $2,860 - $2,840.
If selling pressure continues, we might even see a retest of the $2,822 support level.
🔍 Technical Outlook:
Price is currently at a resistance zone, making it a high-probability short setup.
Confirmation with bearish candles or trendline breaks could provide more confidence for sell entries.
Targets for shorts are set at $2,860 and potentially $2,822.
💡 Trading Plan:
Look for bearish confirmations (rejections, engulfing patterns, trendline breaks) before entering short trades.
A daily close above $3,000 would invalidate this setup and could signal further bullish movement.
What do you think? Are you bearish or bullish on Gold? Drop your thoughts in the comments! 📊🔥
📉 Possible Scenario:
A bearish reaction from this resistance level could lead to a retracement towards the next key demand zone between $2,860 - $2,840.
If selling pressure continues, we might even see a retest of the $2,822 support level.
🔍 Technical Outlook:
Price is currently at a resistance zone, making it a high-probability short setup.
Confirmation with bearish candles or trendline breaks could provide more confidence for sell entries.
Targets for shorts are set at $2,860 and potentially $2,822.
💡 Trading Plan:
Look for bearish confirmations (rejections, engulfing patterns, trendline breaks) before entering short trades.
A daily close above $3,000 would invalidate this setup and could signal further bullish movement.
What do you think? Are you bearish or bullish on Gold? Drop your thoughts in the comments! 📊🔥
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Penerbitan berkaitan
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.