From TradingView · · 40s
Gold Rebound Fails as Trendline Holds
Gold price drops after failing to hold key resistance level.
In brief
Gold price drops after failing to hold key resistance level. Gold rejected 4,157-4,166 resistance and fell 44 points to 4,165. Originally reported by TradingView.
Gold Rebound
Gold rebounded from 4,080 region after softer dollar and falling treasury yields.
Resistance Zone
Price tested 4,157-4,166 intermediate support but slipped below descending trendline.
Key Zones
4,207-4,217 major resistance, 4,190-4,198 bearish ob, 4,157-4,166 intermediate support.
Price Action
Gold rejected descending trendline and dropped 44 points to 4,165 inside support zone.
Next Target
Price targets 4,111-4,122 downside before reaching major demand at 4,075-4,088.
Sell View
Sellers remain active below descending trendline with no sign of bullish reversal.
What to remember
Gold rejected 4,157-4,166 resistance and fell 44 points to 4,165.
