From TradingView · · 1m 20s
Gold Drops Below Key Demand Zone
Gold falls below critical demand area as technical analysis points to deeper liquidity test.
In brief
Gold falls below critical demand area as technical analysis points to deeper liquidity test. Gold price dropped below 4,117-4,127 major demand zone, signaling potential move toward 4,080-4,089 structural low. Originally reported by TradingView.
Gold price drops
Gold is trading around 4,115 after renewed selling pressure pushed price back beneath the immediate H1 demand structure.
Recent market conditions
Earlier Wednesday, bullion recovered as U.S. Treasury yields eased, reducing the opportunity cost of holding Gold, while the dollar also softened slightly.
Mixed macro backdrop
Markets broadly expect the Federal Reserve to hold rates at 3.75%, 4.00% on October 27, 28, but economists still expect renewed tightening in December as inflation remains above target.
Technical view
The H1 structure remains under bearish pressure beneath the descending trendline. Gold has already shifted from the previous recovery structure through a CHoCH and bearish BOS.
Key price zones
Price is now trading around 4,115, slightly below the 4,117, 4,127 Major Demand Zone. The rising lower trendline is still providing temporary structural support.
Next liquidity test
The next major destination sits around the previous structural low. The sequence is: 4,117, 4,127 failure → deeper sell-side expansion → temporary reaction → 4,080, 4,089 structural liquidity test.
Here's the gist
Gold price dropped below 4,117-4,127 major demand zone, signaling potential move toward 4,080-4,089 structural low.
