Gold is currently showing signs of a corrective pullback within a broader bearish trend, with clearly defined supply and demand zones. The structure presents potential opportunities for both intraday bulls and swing traders waiting for a higher timeframe rejection.
🔍 Key Observations:
Current Price Action:
Gold is trading around $3,292.62, showing a minor intraday recovery. However, overall momentum remains bearish after the recent sharp sell-off.
M30 Selling Area:
There is an immediate intraday supply zone around $3,320–$3,322, marked as the "M30 selling area". This is the first level of interest where sellers may become active again.
Strong Selling Area:
A more significant higher timeframe resistance lies between $3,327–$3,332. This is a confluence zone and a probable reversal point. If price reaches here, it’s expected to face strong selling pressure.
📈 Bullish Scenario:
If price breaks and sustains above the M30 selling area, it may target the strong selling zone above.
A confirmed rejection from this higher zone could offer an ideal shorting opportunity.
📉 Bearish Scenario:
Rejection from either of the selling zones could initiate a sell-off targeting the following support areas:
First target: $3,310–$3,312 (Major liquidity area for bullish move)
Second target: $3,303–$3,306 (M30 liquidity area for bullish move)
Break below $3,302 would expose further downside potential.
🧠 Strategy Outlook:
Intraday Traders: Can look for rejection patterns or bearish engulfing candles in the $3,320–$3,330 zones for short entries with tight stops.
Swing Traders: May wait for price to tap into the strong selling area before entering with wider targets down to the liquidity zones.
Bullish invalidation: Sustained breakout and hold above $3,332 would invalidate the short bias.
🔄 Market Sentiment:
Overall bias remains bearish unless bulls reclaim control with volume and structure change above the $3,332 mark.
📌 Summary:
Resistance Zones: $3,320–$3,322 (minor), $3,327–$3,332 (major)
Support Zones: $3,310–$3,312, $3,303–$3,306
Bias: Bearish below $3,332
Trade Setup: Short from resistance zones targeting liquidity areas below.
✍️ Analysis by: BlackRockOfficial
🕒 Chart Timeframe: 30M | Broker: OANDA | Date: July 9, 2025
🔍 Key Observations:
Current Price Action:
Gold is trading around $3,292.62, showing a minor intraday recovery. However, overall momentum remains bearish after the recent sharp sell-off.
M30 Selling Area:
There is an immediate intraday supply zone around $3,320–$3,322, marked as the "M30 selling area". This is the first level of interest where sellers may become active again.
Strong Selling Area:
A more significant higher timeframe resistance lies between $3,327–$3,332. This is a confluence zone and a probable reversal point. If price reaches here, it’s expected to face strong selling pressure.
📈 Bullish Scenario:
If price breaks and sustains above the M30 selling area, it may target the strong selling zone above.
A confirmed rejection from this higher zone could offer an ideal shorting opportunity.
📉 Bearish Scenario:
Rejection from either of the selling zones could initiate a sell-off targeting the following support areas:
First target: $3,310–$3,312 (Major liquidity area for bullish move)
Second target: $3,303–$3,306 (M30 liquidity area for bullish move)
Break below $3,302 would expose further downside potential.
🧠 Strategy Outlook:
Intraday Traders: Can look for rejection patterns or bearish engulfing candles in the $3,320–$3,330 zones for short entries with tight stops.
Swing Traders: May wait for price to tap into the strong selling area before entering with wider targets down to the liquidity zones.
Bullish invalidation: Sustained breakout and hold above $3,332 would invalidate the short bias.
🔄 Market Sentiment:
Overall bias remains bearish unless bulls reclaim control with volume and structure change above the $3,332 mark.
📌 Summary:
Resistance Zones: $3,320–$3,322 (minor), $3,327–$3,332 (major)
Support Zones: $3,310–$3,312, $3,303–$3,306
Bias: Bearish below $3,332
Trade Setup: Short from resistance zones targeting liquidity areas below.
✍️ Analysis by: BlackRockOfficial
🕒 Chart Timeframe: 30M | Broker: OANDA | Date: July 9, 2025
Trade active
zone tapped and 100 pips downNote
please make all your entries in to breakeven
FREE GOLD ANALYSIS PREMIUM CHANNEL JOIN NOW
t.me/+JCNhWuR7HDk3NjU0
t.me/+JCNhWuR7HDk3NjU0
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.
FREE GOLD ANALYSIS PREMIUM CHANNEL JOIN NOW
t.me/+JCNhWuR7HDk3NjU0
t.me/+JCNhWuR7HDk3NjU0
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.