XAUUSD Update – Resistance Rejection and Market Structure Shift
Price Action: Gold has recently tested the 3550 – 3600 resistance zone, where the market showed signs of rejection. This level represents a significant supply area formed by previous liquidity grabs.
Market Structure: After a strong bullish impulse, the current price behavior suggests a possible correction phase. The rally left behind areas of imbalance that could attract price back downward.
Key Observation:
The first reaction zone sits around 3480, which aligns with a structural support level from past consolidation.
A deeper correction may extend toward the 3330 – 3320 support region, a critical level where historical demand has been observed.
Context: Liquidity above recent highs has been taken, and the chart now shows potential for retracement to restore balance before determining the next directional move.
Price Action: Gold has recently tested the 3550 – 3600 resistance zone, where the market showed signs of rejection. This level represents a significant supply area formed by previous liquidity grabs.
Market Structure: After a strong bullish impulse, the current price behavior suggests a possible correction phase. The rally left behind areas of imbalance that could attract price back downward.
Key Observation:
The first reaction zone sits around 3480, which aligns with a structural support level from past consolidation.
A deeper correction may extend toward the 3330 – 3320 support region, a critical level where historical demand has been observed.
Context: Liquidity above recent highs has been taken, and the chart now shows potential for retracement to restore balance before determining the next directional move.
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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.
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.