Gold remains under bearish pressure after rejecting the 4550 resistance zone. Price is now consolidating around the 4508 key level, which is acting as short-term support. The structure shows lower highs and weak bullish momentum, indicating sellers still control the market.
Key Levels
- Resistance 1: 4510–4520
- Resistance 2: 4550
- Support 1: 4500
- Support 2: 4480
Market Structure
The recent rejection from 4550 created a bearish continuation setup. Price is struggling to hold above 4500, and repeated failures to break higher increase the probability of a downside move toward 4480 support.
Bearish Scenario
If candles close below 4500, sellers may push price toward:
- 4480
- Then potentially 4455
Bullish Scenario
Buyers need a strong recovery above 4520 to regain momentum. A confirmed breakout above 4550 could shift sentiment bullish again.
Trading Bias
- Short-term bias: Bearish
- Preferred setup: Sell on rejection near resistance zones
- Confirmation: H4 candle close below 4500
Risk Management
Use proper stop loss placement above resistance and avoid overleveraging during consolidation conditions.
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