XAUUSD

Apr 7

Hello Traders! 👋

What are your thoughts on Gold?

Gold experienced a sharp decline after breaking below the 4800 support level and the ascending trendline, confirming a clear shift in market structure toward a bearish phase.
Following the impulsive drop toward the 4000 zone, price entered a corrective phase and managed to retrace back to the previously broken support, now acting as a key resistance area. This pullback was met with a clear rejection, reinforcing seller dominance in this zone.
Price is expected to consolidate within this resistance zone before potentially resuming its bearish move toward the 4000 level.
As long as price remains below the defined resistance area, the overall market bias remains bearish, and any upward movement is considered corrective.

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Apr 8

Trade active