Gold is currently hovering around key support zones, where price has shown strong reactions in the past. If the market gives respect to these lower supports, a potential bullish reversal can take place.
We can observe that the price is slowing down its bearish momentum and attempting to form a base near the support region. A clean bullish candle formation or a shift in structure could confirm buyers’ presence and indicate that the market is preparing for a possible upside move.
As long as the support holds and price sustains above it, buyers may remain in control. This setup favors a buy scenario, but patience is required for confirmation from price action before execution.
We can observe that the price is slowing down its bearish momentum and attempting to form a base near the support region. A clean bullish candle formation or a shift in structure could confirm buyers’ presence and indicate that the market is preparing for a possible upside move.
As long as the support holds and price sustains above it, buyers may remain in control. This setup favors a buy scenario, but patience is required for confirmation from price action before execution.
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Join My Telegram Channel
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Telegram Username 👉 t.me/Sky_Hatton
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.