GOLD at Key Resistance Zone – Potential Bearish Correction
GOLD is at a significant resistance zone, marked by historical price rejections and heightened interest from sellers in the past. If the price confirms a rejection from this resistance level, I anticipate a short-term bearish move toward the 2,692.88 level, which represents a logical target within the current market structure. This setup aligns with the expectation of a correction after a sharp rally into resistance.
Traders should monitor this zone closely for rejection signals, such as bearish candlestick formations or increased selling pressure, to confirm the likelihood of a pullback.
Traders should monitor this zone closely for rejection signals, such as bearish candlestick formations or increased selling pressure, to confirm the likelihood of a pullback.
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