Gold is currently reacting from a strong demand/support zone around 4500–4510 after a sharp bearish move from the 4700 resistance area. Price swept liquidity below support and quickly recovered, showing buyer presence at lower levels.
Key Levels:
- Resistance 1: 4605
- Resistance 2: 4715
- Support Zone: 4500–4510
Market Structure:
- Overall short-term trend remains bearish below 4605.
- Current bounce suggests a possible corrective move toward 4605 resistance.
- If buyers break and close above 4605, bullish momentum may continue toward 4715.
- Failure to hold above 4500 could trigger another selloff toward lower support levels.
Trading Outlook:
- Bullish Scenario: Buy continuation above 4545 targeting 4605, then 4715.
- Bearish Scenario: Rejection from 4605 may provide fresh selling opportunities targeting 4510 again.
Momentum Indicator:
The oscillator is recovering from oversold territory, indicating weakening bearish momentum and potential short-term upside correction.
Profilo MQL5
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