Gold Price Forecast: Rejection at $2,900 Signals Further Decline
🔹Gold (XAU/USD) Technical Analysis – 27th February 2025
▪️ Market Overview:
The chart represents a 1-hour timeframe of Gold (XAU/USD) CFDs. The market is currently trading around $2,891.698, showing slight bearish momentum with a 0.02% decline.
▪️ Key Levels
- Resistance Area: $2,900 - $2,902
- Target Area (Support Level): $2,873 - $2,875
▪️Price Action & Trend Analysis:
- The market recently tested the highlighted resistance area (red zone) but failed to break above it.
- A rejection from this zone suggests potential further downside movement.
- The price is currently making lower highs and lower lows, indicating a short-term bearish trend.
▪️ Trade Setup & Projection
- Potential Retracement: Price might retest the resistance area ($2,900-$2,902) before continuing downward.
- Bearish Confirmation: If the price fails to break above the resistance, it could drop towards the target area ($2,873-$2,875) as marked in the chart.
- Entry Idea: A sell opportunity may arise if price rejects resistance again with strong bearish candlestick patterns.
▪️ Indicators & Confirmation:
- The market structure favors sellers as it remains below the resistance zone.
- No visible bullish reversal signs yet, reinforcing the bearish outlook.
▪️ Conclusion:
Gold appears to be in a short-term downtrend, with $2,900 acting as a strong resistance. If price maintains below this level, a move towards $2,873-$2,875 is likely. Traders should look for confirmations near the resistance area before entering positions.
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▪️ Market Overview:
The chart represents a 1-hour timeframe of Gold (XAU/USD) CFDs. The market is currently trading around $2,891.698, showing slight bearish momentum with a 0.02% decline.
▪️ Key Levels
- Resistance Area: $2,900 - $2,902
- Target Area (Support Level): $2,873 - $2,875
▪️Price Action & Trend Analysis:
- The market recently tested the highlighted resistance area (red zone) but failed to break above it.
- A rejection from this zone suggests potential further downside movement.
- The price is currently making lower highs and lower lows, indicating a short-term bearish trend.
▪️ Trade Setup & Projection
- Potential Retracement: Price might retest the resistance area ($2,900-$2,902) before continuing downward.
- Bearish Confirmation: If the price fails to break above the resistance, it could drop towards the target area ($2,873-$2,875) as marked in the chart.
- Entry Idea: A sell opportunity may arise if price rejects resistance again with strong bearish candlestick patterns.
▪️ Indicators & Confirmation:
- The market structure favors sellers as it remains below the resistance zone.
- No visible bullish reversal signs yet, reinforcing the bearish outlook.
▪️ Conclusion:
Gold appears to be in a short-term downtrend, with $2,900 acting as a strong resistance. If price maintains below this level, a move towards $2,873-$2,875 is likely. Traders should look for confirmations near the resistance area before entering positions.
😊Don't Forget To Hit The Like Button & Share Your Thoughts In Comments.
Order cancelled
price hit our targets, without entering our selling zone.
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💸FREE FOREX Signals in Telegram : t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
Related publications
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.