Gold has tapped into a long-term descending trendline and key resistance zone. This confluence is paired with sharp 1H rejection and bearish structure forming.
• 🔻 Price reacting cleanly to long-term descending trendline
• 📍 Double confluence: horizontal resistance + bearish wick rejections
• 🧭 1H structure showing lower highs forming
• 📉 Target zone: 3346
• 🛑 SL: Above 3396 (last high and structure break level)
Sell now — clean rejection from HTF trendline and resistance zone could trigger bearish continuation toward the next support.
• 🔻 Price reacting cleanly to long-term descending trendline
• 📍 Double confluence: horizontal resistance + bearish wick rejections
• 🧭 1H structure showing lower highs forming
• 📉 Target zone: 3346
• 🛑 SL: Above 3396 (last high and structure break level)
Sell now — clean rejection from HTF trendline and resistance zone could trigger bearish continuation toward the next support.
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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.