Gold showed strong rejection at the upper channel in the Daily TF, tapping into the Rejection Zone near 3398.
📊 Current Scenarios:
Bullish Breakout above PDH/AVL → Expect rejection again at the 3398 zone if momentum weakens.
Bearish Breakdown → Possible Cup & Handle formation, with a bounce or continuation from:
🔹 Recent Broken Resistance
🔹 FVG + Mitigation Zone
🔹 Previous Day’s Low (PDL)
🔹 Gap Fill Opportunity
📌 Bias: Short-term bearish leaning unless a clear breakout confirms above the Rejection Zone.
📉 Mondays tend to show regression/retracement behavior on Gold, so patience is key.
📍Key Levels to Watch:
Rejection Zone: 3398
PDH/AVL: ~3366
Support Areas: 3307, 3279, 3240
🧠 Sentiment:
Price is overextended from value
Weak momentum in current high
Awaiting liquidity sweep or clean SMC structure formation
📊 Current Scenarios:
Bullish Breakout above PDH/AVL → Expect rejection again at the 3398 zone if momentum weakens.
Bearish Breakdown → Possible Cup & Handle formation, with a bounce or continuation from:
🔹 Recent Broken Resistance
🔹 FVG + Mitigation Zone
🔹 Previous Day’s Low (PDL)
🔹 Gap Fill Opportunity
📌 Bias: Short-term bearish leaning unless a clear breakout confirms above the Rejection Zone.
📉 Mondays tend to show regression/retracement behavior on Gold, so patience is key.
📍Key Levels to Watch:
Rejection Zone: 3398
PDH/AVL: ~3366
Support Areas: 3307, 3279, 3240
🧠 Sentiment:
Price is overextended from value
Weak momentum in current high
Awaiting liquidity sweep or clean SMC structure formation
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.