Gold remains under short-term bearish pressure, presenting an opportunity to sell into resistance. Our focus is on the 2875.2 level, where we anticipate price to retest before continuing lower. This level aligns with a previous support-turned-resistance zone, offering a favorable risk-reward setup. With price trading below the 200-period moving average, bearish momentum remains strong, increasing the likelihood of further downside. A clean rejection from this area could see gold extend losses toward our 2830 target, where demand may step in. However, any sustained breakout above 2875.2 would invalidate the setup. Intraday traders should watch for price action confirmation near resistance before entering short positions
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My free signals
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t.me/+pknBOliLTkI1Mjk5
Contact me
t.me/Eleazarahmath
x.com/Elitepipmaster
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.