he image you provided is a technical analysis of Gold (XAU/USD) on the 15-minute timeframe from TradingView. It clearly reflects a bearish (short) outlook for the coming weeks, potentially lasting until the end of May 2025. Here's a detailed breakdown:
🔍 Technical Context
Gold reached a high around 3,500, followed by a correction that revisited the 3,421 level, creating a strong resistance zone (likely due to liquidity grabs and profit-taking).
From there, the chart shows a potential reversal structure, with expectations of a downward move.
🔻 Bearish Scenario (Short)
The final target for this bearish move is in the 3,124–3,078 area, which represents a key liquidity zone (highlighted with dashed lines and orange horizontal levels).
Before reaching that, the price might test several intermediate support zones:
3,288
3,241
3,124
The current pattern suggests that after a strong upward impulse, the market is now likely taking a breather, possibly influenced by strength in the equity markets, which reduces gold's appeal as a safe haven in the short term.
📅 Expected Timeframe
This downward move is expected to unfold by the end of May 2025, as indicated by the vertical time markers on the chart (one marking May 15th).
📈 Additional Observations
There's a red-green box on the chart indicating the risk/reward zone for the short entry.
The previous bullish trend is marked by clear impulse and correction waves, but the current price action shows loss of momentum and possible reversal signs.
🔍 Technical Context
Gold reached a high around 3,500, followed by a correction that revisited the 3,421 level, creating a strong resistance zone (likely due to liquidity grabs and profit-taking).
From there, the chart shows a potential reversal structure, with expectations of a downward move.
🔻 Bearish Scenario (Short)
The final target for this bearish move is in the 3,124–3,078 area, which represents a key liquidity zone (highlighted with dashed lines and orange horizontal levels).
Before reaching that, the price might test several intermediate support zones:
3,288
3,241
3,124
The current pattern suggests that after a strong upward impulse, the market is now likely taking a breather, possibly influenced by strength in the equity markets, which reduces gold's appeal as a safe haven in the short term.
📅 Expected Timeframe
This downward move is expected to unfold by the end of May 2025, as indicated by the vertical time markers on the chart (one marking May 15th).
📈 Additional Observations
There's a red-green box on the chart indicating the risk/reward zone for the short entry.
The previous bullish trend is marked by clear impulse and correction waves, but the current price action shows loss of momentum and possible reversal signs.
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.
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.