GOLD/USD Bearish Rejection From Resistance Zone – Potential Drop Ahead! 🎯
📊 Technical Analysis Summary:
The chart illustrates a bearish setup forming after multiple rejection points near a key resistance zone around 3,360–3,380 USD.
🔍 Key Observations:
🔴 Double Rejection Pattern:
Red arrows highlight strong bearish rejections from resistance.
Indicates sellers are defending this zone aggressively.
🟠 Support Turned Resistance:
The previous support (labelled as "SUPPOT") is now acting as resistance.
Classic bearish retest behavior.
🔷 Bearish Flag Formation:
Price consolidates in a descending flag pattern.
Breakdown below the flag suggests continuation to the downside.
🎯 Target Zone:
If breakdown confirms, price may drop towards target area near 3,275–3,280 USD (marked as “TARGET FAXS”).
🟧 Important Reaction Zones:
Multiple orange circles indicate zones of high reaction – historically significant for both buyers and sellers.
📌 Conclusion:
Unless bulls reclaim the 3,360–3,380 resistance zone convincingly, the bias remains bearish, and the next leg down may target the 3,280 USD area.
🔔 Traders should watch for a clean break below 3,320 to confirm bearish continuation.
📊 Technical Analysis Summary:
The chart illustrates a bearish setup forming after multiple rejection points near a key resistance zone around 3,360–3,380 USD.
🔍 Key Observations:
🔴 Double Rejection Pattern:
Red arrows highlight strong bearish rejections from resistance.
Indicates sellers are defending this zone aggressively.
🟠 Support Turned Resistance:
The previous support (labelled as "SUPPOT") is now acting as resistance.
Classic bearish retest behavior.
🔷 Bearish Flag Formation:
Price consolidates in a descending flag pattern.
Breakdown below the flag suggests continuation to the downside.
🎯 Target Zone:
If breakdown confirms, price may drop towards target area near 3,275–3,280 USD (marked as “TARGET FAXS”).
🟧 Important Reaction Zones:
Multiple orange circles indicate zones of high reaction – historically significant for both buyers and sellers.
📌 Conclusion:
Unless bulls reclaim the 3,360–3,380 resistance zone convincingly, the bias remains bearish, and the next leg down may target the 3,280 USD area.
🔔 Traders should watch for a clean break below 3,320 to confirm bearish continuation.
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Disclaimer
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JOIN MY TELEGRAM CHANNEL
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JOIN MY RECOMMENTED BROKER REFFREL LINK
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PARTNER CODE⤵️
uvd1etcgg1
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
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PARTNER CODE⤵️
uvd1etcgg1
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.