Hey everyone, it's Kilian!
Right now, gold is entering a really interesting phase. The price is approaching the 4100 level, a key psychological threshold, and it could potentially become a dynamic resistance formed by the upper boundary of the ascending channel. This is a crucial area where selling pressure might increase, leading to the possibility of a short-term pullback or profit-taking.
Based on the current market structure, if the price confirms rejection at this resistance level, there's a high likelihood of a price drop. The nearest target for this decline could be around the 4000 level, near the lower boundary of the channel. However, if the price breaks through this support level, the bullish structure will be invalidated, and we may witness a continuation of the downtrend.
This setup reflects the potential for a pullback after a strong upward move, as indicated by the current market structure. If you agree with this analysis or have any additional insights, feel free to share your thoughts in the comments!
Right now, gold is entering a really interesting phase. The price is approaching the 4100 level, a key psychological threshold, and it could potentially become a dynamic resistance formed by the upper boundary of the ascending channel. This is a crucial area where selling pressure might increase, leading to the possibility of a short-term pullback or profit-taking.
Based on the current market structure, if the price confirms rejection at this resistance level, there's a high likelihood of a price drop. The nearest target for this decline could be around the 4000 level, near the lower boundary of the channel. However, if the price breaks through this support level, the bullish structure will be invalidated, and we may witness a continuation of the downtrend.
This setup reflects the potential for a pullback after a strong upward move, as indicated by the current market structure. If you agree with this analysis or have any additional insights, feel free to share your thoughts in the comments!
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.