From TradingView · · 50s
Gold Reaches Demand Zone
Gold hits key price zone, will buyers push back?
In brief
Gold hits key price zone, will buyers push back? Gold price reached a demand zone between 3,982 and 4,008 dollars, but buyers may not hold the price if sellers push through. Originally reported by TradingView.
Gold price reaches demand zone
Gold has experienced a sharp bearish move on the H4 timeframe, bringing price into a key demand zone around 3,982, 4,008.
Upside target and invalidation
Upside target is 4,114, a key resistance level if a bullish recovery develops. Invalidation: A decisive breakdown below the demand zone could expose lower prices and invalidate the bullish scenario.
Trading plan and caution
I’m watching for a bullish reaction within the demand zone before considering a long position. A strong rejection and confirmation on a lower timeframe would provide better evidence that buyers are stepping in.
What matters most
Gold price reached a demand zone between 3,982 and 4,008 dollars, but buyers may not hold the price if sellers push through.
