Market context
Gold printed a strong impulsive leg from the 4,240–4,260 base, accelerating into the 4,350–4,360 supply area before facing a sharp rejection. Since then, price has transitioned into consolidation, holding above the prior breakout region rather than unwinding the entire move.
This behavior suggests short-term balance after expansion, not immediate trend failure.
Current structure
- Supply zone: ~4,350–4,360, where the impulsive leg was capped
- Range mid / current price: ~4,320–4,330
- Demand zone: ~4,280–4,290, aligned with the last breakout and rising EMA support
Price remains above the rising EMA 34 (~4,292) and EMA 89 (~4,258), keeping the intraday structure constructive despite the loss of momentum. Candles are overlapping, reflecting indecision and rotational flow rather than directional commitment.
Scenarios
➡️ Primary scenario:
If buyers continue to defend the 4,280–4,290 demand area, price may remain rotational before attempting another push toward the 4,350–4,360 supply zone.
⚠️ Risk scenario:
A sustained break below 4,280, followed by acceptance under the EMA structure, would weaken the bullish bias and expose a deeper pullback toward the 4,240–4,250 liquidity area.
Gold printed a strong impulsive leg from the 4,240–4,260 base, accelerating into the 4,350–4,360 supply area before facing a sharp rejection. Since then, price has transitioned into consolidation, holding above the prior breakout region rather than unwinding the entire move.
This behavior suggests short-term balance after expansion, not immediate trend failure.
Current structure
- Supply zone: ~4,350–4,360, where the impulsive leg was capped
- Range mid / current price: ~4,320–4,330
- Demand zone: ~4,280–4,290, aligned with the last breakout and rising EMA support
Price remains above the rising EMA 34 (~4,292) and EMA 89 (~4,258), keeping the intraday structure constructive despite the loss of momentum. Candles are overlapping, reflecting indecision and rotational flow rather than directional commitment.
Scenarios
➡️ Primary scenario:
If buyers continue to defend the 4,280–4,290 demand area, price may remain rotational before attempting another push toward the 4,350–4,360 supply zone.
⚠️ Risk scenario:
A sustained break below 4,280, followed by acceptance under the EMA structure, would weaken the bullish bias and expose a deeper pullback toward the 4,240–4,250 liquidity area.
Trade active
The price is still moving according to the predicted scenario - it will move sideways before reaching a new all-time high in the near future. Gold will definitely reach a new all-time high; it's just a matter of time, and the combination of macroeconomic news will accelerate this process.
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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.
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.