In my commentary yesterday, I highlighted the importance of the 3360 support zone. While Gold initially found a bid around this level, the sharp reversal from the 3415 Asian session high suggests a failed breakout.
Key Observations:
• The quick rejection above 3360 now looks like a false break, reinforcing the bearish outlook.
• The recent high around 3415 appears to be a lower high following the 3500 ATH, confirming potential trend weakness.
• Given this structure, a drop back to at least the 3270 support zone seems highly probable.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Key Observations:
• The quick rejection above 3360 now looks like a false break, reinforcing the bearish outlook.
• The recent high around 3415 appears to be a lower high following the 3500 ATH, confirming potential trend weakness.
• Given this structure, a drop back to at least the 3270 support zone seems highly probable.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.