🔻 Bearish Scenario: Gold is exhibiting a sideways-to-bearish structure today. A potential downside move is expected from the $2,899 - $2,904 resistance zone, with targets at $2,878.
📈 Retracement & Bullish Pullback: If price stabilizes near $2,899, we may see a temporary bullish move toward $2,910 before another bearish leg resumes.
🔍 Technical Analysis:
📉 Bearish Bias
🔸 Resistance Levels: $2,899 - $2,904
🔸 Support Levels: $2,878, $2,870
🔸 Indicators:
EMA: Price remains below key moving averages, favoring sellers.
RSI: Trending near the midline, signaling potential downside continuation.
Order Blocks & FVGs: Key supply zones identified around $2,904 - $2,910.
📢 Trading Plan:
✅ Sell Zone: $2,899 - $2,904
🎯 Target 1: $2,878
🎯 Target 2: $2,870
❌ SL: Above $2,910 (invalidation of bearish setup)
⚠️ Alternative Scenario: A break above $2,910 may shift momentum towards $2,920+.
📌 Stay updated on economic events and USD movements to refine entries & exits! 🚀
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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.