Gold is in range : Current Price Action and Intraday Levels
We have seen a recent downtrend (Short Period )after hitting a peak. The price has fallen below the previous support area and consolidation range (highlighted in yellow),and currently consolidating (In grey Box)suggesting sideways to bearish momentum. However, the consolidation could also imply that the market might be looking for direction (Wait for break in any direction).
Current Price Action: Gold is currently priced at around $2,624.235, which is slightly above the pivot point (P) at $2,624.000. The price has shown a recent decline from the high of around $2,673.453, indicating a bearish sentiment in the short term.
Resistance Levels based on Weekly Pivots:
R1 is at $2,664.085, which was recently tested and acted as resistance. If the price moves up, this level could act as a resistance again.
R2 at $2,704.560 and R3 at $2,744.645 are further resistance levels to watch if there's a strong bullish move.
Support Levels based on Weekly Pivots:
S1 is at $2,583.525, which is quite close to the current price. If the price breaks below the pivot point, this could be the first support level to watch.
S2 at $2,543.440 and S3 at $2,502.965 are deeper support levels where buyers might step in.
As discussed in weekly analysis video I am currently waiting for a swing buy opportunity ; and waiting for Lower level in 2550-2530 or Low area , or need confirmation above 2650 if price want to move directly in higher side without testing the lower levels .
Current Price Action: Gold is currently priced at around $2,624.235, which is slightly above the pivot point (P) at $2,624.000. The price has shown a recent decline from the high of around $2,673.453, indicating a bearish sentiment in the short term.
Resistance Levels based on Weekly Pivots:
R1 is at $2,664.085, which was recently tested and acted as resistance. If the price moves up, this level could act as a resistance again.
R2 at $2,704.560 and R3 at $2,744.645 are further resistance levels to watch if there's a strong bullish move.
Support Levels based on Weekly Pivots:
S1 is at $2,583.525, which is quite close to the current price. If the price breaks below the pivot point, this could be the first support level to watch.
S2 at $2,543.440 and S3 at $2,502.965 are deeper support levels where buyers might step in.
As discussed in weekly analysis video I am currently waiting for a swing buy opportunity ; and waiting for Lower level in 2550-2530 or Low area , or need confirmation above 2650 if price want to move directly in higher side without testing the lower levels .
Note
Based on the delta values towards the end of the chart, the sentiment appears to be shifting towards bearish as we see more red bars (negative delta) indicating selling pressure. However, the overall movement in price is minimal, suggesting that while there might be some bearish sentiment, it's not strong enough to push the price significantly lower,The market sentiment as of the last data point on the chart seems to be slightly bearish, given the recent negative delta values and the slight decrease in price. 
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