From TradingView · · 1m 10s
Gold faces bearish pressure after failed recovery attempt
Technical analysis shows XAUUSD trading around 4,292 with downside risk toward key support zone at 4,260-4,275.
In brief
Technical analysis shows XAUUSD trading around 4,292 with downside risk toward key support zone at 4,260-4,275. Gold remains in a bearish structure with the critical test at 4,260-4,275; a break below could trigger further downside. Originally reported by TradingView.
Gold stuck in bearish structure
XAUUSD trades around 4,292 after strong bearish displacement from upper levels. Price sits below all major moving averages with descending trendline acting as resistance.
Weak recovery from lower zone
Price bounced from 4,260-4,275 area where a small order block sits, but the rebound hasn't reclaimed nearby resistance. Bearish pressure remains present.
“Recent price action shows a weak recovery from the lower area around 4,260, 4,275”
Key support at 4,260-4,275
The small order block zone is the next critical test. A break below this area could expose further downside, while 4,380-4,400 marks the key recovery zone.
Bearish continuation scenario likely
Price may revisit the 4,260-4,275 zone first. If it fails to hold, further downside could develop toward lower levels.
“A clear break and acceptance below the Small OB, followed by a successful retest and bearish displacement”
Recovery requires strong reclaim
Bulls need to push above 4,350-4,365 and then retest 4,380-4,400 to invalidate the bearish thesis. Strong acceptance above 4,380-4,400 would signal deeper recovery.
The main idea
Gold remains in a bearish structure with the critical test at 4,260-4,275; a break below could trigger further downside.
