GigaAlgo Gold (XAU/USD) Market Snapshot – May 8
Sentiment: Bullish on larger timeframes, but current momentum shows bearish regression on lower timeframes.
Price Action: Gold pulled back sharply after rejecting a resistance area near the premium zone.
Trend: The overall structure remains intact; however, the recent high could be a short-term top if no support bounce occurs.
Key Levels: Price is reacting at a key intraday station. A break lower could target deeper algorithmic destinations.
Smart Money Outlook: Volume gaps below align with the algo’s DEST zones, indicating where liquidity may get swept.
Outlook: Watch for signs of reversal near the support region or continuation if bearish pressure intensifies.
Sentiment: Bullish on larger timeframes, but current momentum shows bearish regression on lower timeframes.
Price Action: Gold pulled back sharply after rejecting a resistance area near the premium zone.
Trend: The overall structure remains intact; however, the recent high could be a short-term top if no support bounce occurs.
Key Levels: Price is reacting at a key intraday station. A break lower could target deeper algorithmic destinations.
Smart Money Outlook: Volume gaps below align with the algo’s DEST zones, indicating where liquidity may get swept.
Outlook: Watch for signs of reversal near the support region or continuation if bearish pressure intensifies.
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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.
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.