🔍 Current Market Position
Price: $3,358.125
Currently near resistance zone ($3,420–$3,470)
Historical reaction in this zone shows multiple rejections 🛑
📌 Key Levels
🔺 Resistance Point: ~$3,420–$3,470
Rejected here 3 times ➡️ strong supply zone
🔻 Support Level: ~$3,150
Past price bounced here multiple times 🟠
💪 Strong Support: ~$2,950
Major bounce seen in early May 👊
🧭 Pattern Outlook
Repeated resistance test 🔁 ➡️ potential double/triple top
📉 Blue arrow suggests bearish projection towards $3,050–$2,950
If support at $3,150 fails 🔓, expect deeper drop to strong support
🔮 Forecast
🔽 Bearish Bias
High chance of reversal from resistance
Target: $3,050 and possibly $2,950 🎯
⚠️ Watch for
Price Action at Resistance: Rejection = short opportunity 🔧
Break of $3,150 Support: May accelerate bearish move 🧨
📌 Summary:
Market shows clear resistance rejection history. If it plays out again, we may see a strong drop toward lower support zones. Ideal for short setups 📉💼
Price: $3,358.125
Currently near resistance zone ($3,420–$3,470)
Historical reaction in this zone shows multiple rejections 🛑
📌 Key Levels
🔺 Resistance Point: ~$3,420–$3,470
Rejected here 3 times ➡️ strong supply zone
🔻 Support Level: ~$3,150
Past price bounced here multiple times 🟠
💪 Strong Support: ~$2,950
Major bounce seen in early May 👊
🧭 Pattern Outlook
Repeated resistance test 🔁 ➡️ potential double/triple top
📉 Blue arrow suggests bearish projection towards $3,050–$2,950
If support at $3,150 fails 🔓, expect deeper drop to strong support
🔮 Forecast
🔽 Bearish Bias
High chance of reversal from resistance
Target: $3,050 and possibly $2,950 🎯
⚠️ Watch for
Price Action at Resistance: Rejection = short opportunity 🔧
Break of $3,150 Support: May accelerate bearish move 🧨
📌 Summary:
Market shows clear resistance rejection history. If it plays out again, we may see a strong drop toward lower support zones. Ideal for short setups 📉💼
Market Analysts, Mentor, Forex Trader.
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
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.
Market Analysts, Mentor, Forex Trader.
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
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.