Maintaining accumulation - downward trend

Jul 10

📈 1. Trend & Market Structure

Current Trend: Bearish Rejection Within a Short-Term Recovery

Based on the H1 chart:

Gold has rebounded from the 4,020–4,055 support zone but is now facing strong resistance at the long-term descending trendline.
Price remains above the EMA89 (~4,109), while the EMA9 (~4,121) has started to flatten, indicating bullish momentum is slowing.
The short-term structure still shows Higher Lows, but no Higher High has formed as price continues to be rejected around 4,135–4,140.
The current area is a key confluence of:
Long-term descending trendline
Horizontal resistance at 4,130–4,140
The recent swing high
RSI has eased to around 54–55, suggesting bullish momentum is fading and the market is entering a consolidation phase.

👉 Current Trend: Bearish Rejection. Selling opportunities remain favored if price continues to reject the resistance zone.

📊 2. Price Action Analysis

After rallying sharply from 4,020 to 4,137, gold failed to break above the descending trendline and has started consolidating below resistance.

Price is currently testing the 4,118–4,125 area, just beneath the descending trendline.

🔴 Resistance
4,130–4,140
4,165–4,170
4,180–4,185
🔵 Support
4,090–4,095
4,055–4,060
4,020–4,025

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BUY GOLD ZONE : 4057 - 4054

SL : 4049

TP : 4068 - 4082 - 4115

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Jul 10

Trade active

M15 - buying pressure accumulating around 4110. Uptrend returns above 4120, accumulation.