Gold (XAUUSD) on the 30-minute timeframe is showing a clean structure shift.
Price was moving inside an ascending channel, but after the upper rejection, it formed a clear Head and Shoulders pattern — signaling a potential bearish reversal. Once the neckline broke, sellers took control, pushing the market down sharply.
Now price is testing the key demand zone around 4040–4050. This area will decide the next move:
• If buyers defend this zone, we may see a short-term reversal toward 4090 → 4160 resistance areas.
• If the zone breaks, sellers could extend the drop toward 4000 or lower.
Bias: Short-term bearish, watching for bullish reaction from 4040–4050 zone.
Price was moving inside an ascending channel, but after the upper rejection, it formed a clear Head and Shoulders pattern — signaling a potential bearish reversal. Once the neckline broke, sellers took control, pushing the market down sharply.
Now price is testing the key demand zone around 4040–4050. This area will decide the next move:
• If buyers defend this zone, we may see a short-term reversal toward 4090 → 4160 resistance areas.
• If the zone breaks, sellers could extend the drop toward 4000 or lower.
Bias: Short-term bearish, watching for bullish reaction from 4040–4050 zone.
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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.