Gold's Bearish Momentum: Breaking Below Key Levels, What's Next?
🔹Gold (XAU/USD) 1H Technical Analysis
▪️Resistance & Rejection:
Price tested a key resistance area around 2,920 and faced strong rejection, confirming bearish pressure.
▪️Point of Interest & Retest:
The market has broken below the 2,896 zone, which now acts as a resistance. A retest of this level could confirm further downside.
▪️Bearish Target:
If the price sustains below 2,896, the next target is around 2,849, aligning with historical support levels.
▪️Volume & Momentum:
Increased volume on the breakdown suggests strong bearish momentum, favoring further declines.
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▪️Resistance & Rejection:
Price tested a key resistance area around 2,920 and faced strong rejection, confirming bearish pressure.
▪️Point of Interest & Retest:
The market has broken below the 2,896 zone, which now acts as a resistance. A retest of this level could confirm further downside.
▪️Bearish Target:
If the price sustains below 2,896, the next target is around 2,849, aligning with historical support levels.
▪️Volume & Momentum:
Increased volume on the breakdown suggests strong bearish momentum, favoring further declines.
😊If you enjoy, press the like button.
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price hit our targets, without entering our supply zone.
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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.
💸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.