In my commentary yesterday, I highlighted the importance of the 3360 support zone. While Gold initially found a bid around this level, the sharp reversal from the 3415 Asian session high suggests a failed breakout.
Key Observations:
• The quick rejection above 3360 now looks like a false break, reinforcing the bearish outlook.
• The recent high around 3415 appears to be a lower high following the 3500 ATH, confirming potential trend weakness.
• Given this structure, a drop back to at least the 3270 support zone seems highly probable.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Key Observations:
• The quick rejection above 3360 now looks like a false break, reinforcing the bearish outlook.
• The recent high around 3415 appears to be a lower high following the 3500 ATH, confirming potential trend weakness.
• Given this structure, a drop back to at least the 3270 support zone seems highly probable.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.