Frame D shows some selling pressure that could be profit-taking by investors but has not yet confirmed the appearance of a downtrend.
The h4 wave structure is still leaning towards the bulls quite a bit when the 3215 zone has been noticed by buyers
Gold is rejecting the 3232 price zone, trading around 3223, creating a fairly important resistance zone at 3232.
Trading scenario This decline is still quite strong and can decrease to the support zone of break out 3215. In the US session, pay attention to the price reaction of this zone to buy. If it bounces strongly from 3215, you can consider holding it long. On the contrary, if it breaks through 3215, 3203 is the destination for the SELL signal. 3237 is an important resistance zone today. If the price breaks this zone, it will confirm an ATH in the US session.
The h4 wave structure is still leaning towards the bulls quite a bit when the 3215 zone has been noticed by buyers
Gold is rejecting the 3232 price zone, trading around 3223, creating a fairly important resistance zone at 3232.
Trading scenario This decline is still quite strong and can decrease to the support zone of break out 3215. In the US session, pay attention to the price reaction of this zone to buy. If it bounces strongly from 3215, you can consider holding it long. On the contrary, if it breaks through 3215, 3203 is the destination for the SELL signal. 3237 is an important resistance zone today. If the price breaks this zone, it will confirm an ATH in the US session.
Trade active
Gold price hangs close to all-time highs at $3,275Gold price holds the advannce to record another all-time high at $3,275 per troy ounce in the Asian session on Wednesday. Safe-haven demand amid US President Donald Trump's uncertain tariff plans, softer US Dollar and prospects of further easing by the Federal Reserve provide some support to the yellow metal.
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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.