Gold is showing signs of weakness after retesting the resistance area around 3,394 USD. The current price structure indicates a failed minor rebound – most likely a false breakout, suggesting the potential for another leg down.
On the H4 chart, price has slipped below the EMA34 and is heading toward the EMA89 zone. If selling pressure continues, the next target will be the strong support around 3,167 USD. A break below this level could trigger a deeper decline toward the 3,114 USD zone.
Notably, price action is forming a short-term “lower high” – a classic characteristic of a downtrend. The strategy now is to closely monitor the retracement zone around 3,320–3,330 USD for reversal signals, rather than trying to catch a bottom too early.
On the H4 chart, price has slipped below the EMA34 and is heading toward the EMA89 zone. If selling pressure continues, the next target will be the strong support around 3,167 USD. A break below this level could trigger a deeper decline toward the 3,114 USD zone.
Notably, price action is forming a short-term “lower high” – a classic characteristic of a downtrend. The strategy now is to closely monitor the retracement zone around 3,320–3,330 USD for reversal signals, rather than trying to catch a bottom too early.
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Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
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.