From TradingView · · 1m
Gold Price Analysis for October 22
Gold price analysis shows bearish trend with key resistance zones for traders.
In brief
Gold price analysis shows bearish trend with key resistance zones for traders. Gold faces selling pressure as it struggles to break above $4,125 resistance. Originally reported by TradingView.
Market Pressure on Gold
Gold faces pressure from inflation concerns driven by rising oil prices and expectations that the Fed will maintain restrictive monetary policy.
Recent Gold Price Action
During October 21 session gold rebounded slightly as U.S. Treasury yields declined but short-term trend remains weak.
Technical Analysis
XAUUSD trading around $4,114 after rejection at 4,125-4,130 zone with sellers in control.
Bearish Trend
H1 structure remains bearish with lower highs forming and selling pressure on each rebound.
Price Breakdown
A break below 4,110 could push gold toward 4,100 and the 4,078-4,083 demand zone.
Trading Strategy
SELL zones at 4,126-4,131 and 4,155-4,160 with BUY zone at 4,085-4,079 for potential reversals.
Here's the gist
Gold faces selling pressure as it struggles to break above $4,125 resistance.
