Price action: a strong rally from ~4,040 to ~4,118 between roughly 23:00 and 02:00, followed by a sharp pullback to ~4,096-4,097, currently sitting right at a gray supply/order-block zone (~4,090-4,108) that previously acted as resistance before the breakout.
Key levels: the gray zone (~4,090-4,108) is the immediate area to watch — price rejected from its upper boundary near 4,118-4,120 and is now testing the lower portion. Below that, green support bands cluster around 4,058-4,080, marking the prior consolidation/order-block zone from before the rally. The 4,020-4,040 zone was the prior swing low.
Bias: short-term momentum has turned bearish after the rejection at 4,118-4,120, with price now retracing into the broken structure. Whether this zone holds as support (bullish continuation) or breaks (deeper pullback toward 4,080 and the 4,058-4,070 support cluster) will likely determine near-term direction. A reclaim above ~4,108-4,110 would favor resumption of the uptrend; a clean break below ~4,090 opens room toward 4,070-4,058.
Note: this is a technical observation, not trading advice — gold is highly volatile and macro catalysts can override chart structure quickly.
Key levels: the gray zone (~4,090-4,108) is the immediate area to watch — price rejected from its upper boundary near 4,118-4,120 and is now testing the lower portion. Below that, green support bands cluster around 4,058-4,080, marking the prior consolidation/order-block zone from before the rally. The 4,020-4,040 zone was the prior swing low.
Bias: short-term momentum has turned bearish after the rejection at 4,118-4,120, with price now retracing into the broken structure. Whether this zone holds as support (bullish continuation) or breaks (deeper pullback toward 4,080 and the 4,058-4,070 support cluster) will likely determine near-term direction. A reclaim above ~4,108-4,110 would favor resumption of the uptrend; a clean break below ~4,090 opens room toward 4,070-4,058.
Note: this is a technical observation, not trading advice — gold is highly volatile and macro catalysts can override chart structure quickly.
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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.