XAU/USD (GOLD) – Potential Bearish Rejection from Sell Zone
Resistance Rejection Scenario:
Sell Zone: 2,513 - 2,522
Gold is approaching a sell zone between 2,513 and 2,522, where sellers may step in, pushing the price lower.
TP1: 2495
TP2: 2470
Stop Loss: Above 2,534
Bullish zone at 2455-2465
The price is likely to test the sell zone first, and depending on the reaction there, the market could either see a bearish rejection or continue the bullish rally. The 2,460 - 2,455 buy zone remains a crucial support area to watch for potential reversals if the price declines.
Sell Zone: 2,513 - 2,522
Gold is approaching a sell zone between 2,513 and 2,522, where sellers may step in, pushing the price lower.
TP1: 2495
TP2: 2470
Stop Loss: Above 2,534
Bullish zone at 2455-2465
The price is likely to test the sell zone first, and depending on the reaction there, the market could either see a bearish rejection or continue the bullish rally. The 2,460 - 2,455 buy zone remains a crucial support area to watch for potential reversals if the price declines.
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.