GOLD Price Update – Clean & Clear Explanation

Feb 25

Gold showing recent price action after a strong bullish move followed by consolidation.

Gold previously respected a strong ascending trendline, forming higher highs and higher lows. Price rallied aggressively and tapped a major supply/resistance zone near 5,240–5,260, where sellers stepped in and caused a sharp rejection.

After the rejection, the market broke below the rising trendline, signalling a potential trend shift from bullish to corrective/neutral. Price then formed a consolidation structure, creating lower highs while struggling to break above the mid resistance zone around 5,200–5,220.

Currently, price is trading near a key resistance area around 5,206–5,220, which aligns with previous support turned resistance. The chart highlights a bearish scenario with projected downside moves.

If price fails to break and hold above 5,220, we could see a rejection leading to a move toward 5,150, and potentially a deeper drop toward 5,100.

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Feb 26

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