🔹 Technical Outlook:
📍 Bearish Structure: Gold is trading below the key pivot level, reinforcing a downside bias.
📍 Key Resistance (Sell Zone): $2896 – $2903 🛑
📍 Support Levels:
First Target: $2878 🎯
Second Target: $2864 🏹
📍 Indicators & Price Action:
✅ Price is below the moving averages, confirming a bearish trend.
✅ RSI signals downside momentum, staying below 50.
✅ Order flow indicates more sellers dominating the market.
🔹 Trading Plan:
🔻 Sell on pullbacks near the resistance zone $2896 – $2903, targeting $2878 – $2864.
🔻 Stop-loss: Above $2908 to protect against unexpected reversals.
🔺 Bullish scenario is unlikely unless gold reclaims $2910 with strong momentum.
📊 Conclusion: Bears maintain control as long as Gold remains below pivot levels. Keep an eye on fundamental catalysts like economic data or Fed commentary for potential shifts in sentiment.
📢 Risk Management: Trade with proper position sizing and stop-loss discipline! 🚀
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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.