Gold remains in a short-term bearish structure after failing to sustain above the 4715 resistance zone. Price recently broke below multiple intraday support levels and is now consolidating around the 4520–4510 demand area.
Key structure shows:
- Resistance: 4605 → 4610 and 4715
- Major Support: 4520 → 4510
- Current Bias: Bearish below 4605
The market reacted strongly from the lower demand zone several times, indicating buyers are still defending this area. However, lower highs and continued rejection from resistance suggest weak bullish momentum.
Trading Scenario:
- If price holds above 4510 and forms bullish confirmation, a rebound toward 4605 is possible.
- A confirmed break below 4510 could trigger further downside continuation toward 4480 and potentially lower.
Professional Outlook:
The overall momentum favors sellers unless buyers reclaim 4605 decisively. Traders should watch for liquidity sweeps around the support box before the next impulsive move. Risk management remains essential due to increased volatility near key support.
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