GOLD NEXT MOVE NEXT WEEK GOLD BIG DOWN GOLD SELL NOW 3230- LIMIT 3240=3250 FIRST TARGET 3200 NEXT TARGET 3180 LONG TARGET 3150 Counter-Analysis to the Bearish Bias
1. Volume Analysis Suggests Demand at Lows
The highlighted "Strong Support" zone around 3,156 shows high buying volume—evidenced by the tall green bars on the volume histogram.
This may indicate accumulation, not preparation for breakdown, contrary to the red arrows implying a strong downward continuation.
2. Oversold Market Conditions
Given the repeated tests of lower support zones without major follow-through, there's a risk of bearish exhaustion.
A reversal pattern (e.g., double bottom or inverse head and shoulders) could form near 3,215 or 3,187.
3. Failed Breakdown Possibility
Price rebounded sharply from the support zone below 3,220, which could be interpreted as a bear trap.
If price closes above the 3,248 resistance level, the market may target the 3,294 and even higher levels, invalidating the bearish roadmap.
4. Ignored Higher Timeframe Context
This chart is on a 1H timeframe, but without a higher timeframe reference (e.g., 4H or Daily), the bias may be misleading.
If the daily chart is bullish or consolidating, this 1H downtrend could just be a retracement.
5. No Confirmation of Breakdown Yet
None of the major support levels (e.g., 3,215 or 3,187) have been broken with high volume and strong candles.
Until a confirmed lower low below 3,156 is printed, this remains a range or consolidation, not a breakdown.
Alternative Bullish Scenario
If price holds above 3,215 and breaks 3,248 with volume, the next target could be:
3,293 (Resistance)
Possibly 3,320 and above (double top region
