1️⃣ Market Structure
Following a clean bullish reversal from the Bull OTE zone, Gold delivered a strong impulse toward the upper resistance levels.
However, the current rejection occurred exactly inside a market gap located within a supply zone, a key sign of low-liquidity rejection.
2️⃣ Key Zone
Rejection inside a gap
Located just under a key supply zone
Price is still holding above structural support, but short-term exhaustion is visible
3️⃣ Short-Term Expectation
🔽 A pullback is now likely :
First target : 50% retracement of the bullish leg
Second target: Bull OTE area (around 3,240–3,255 $)
This would offer a clean reaccumulation zone before any continuation.
4️⃣ Momentum Clue
Price action remains bullish overall, but a healthy correction is required to sustain the next move.
🎯 Conclusion
Gold may be in for a short consolidation/ pullback before aiming higher.
👉 A return into the 50%-OTE zone would be a strong bullish re-entry setup if supported by volume.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.