From TradingView · · 40s
Gold Reverses at 4,340 Resistance
Gold shows signs of rejection at key resistance near 4,340, setting up a potential short trade.
In brief
Gold shows signs of rejection at key resistance near 4,340, setting up a potential short trade. Gold rejected 4,337, 4,343 resistance, signaling a possible short-term bearish move. Originally reported by TradingView.
Gold hits resistance
Price rejected key resistance zone at 4,337, 4,343 after rapid rally from 4,280s.
“Price has reached an area where sellers could step back in”
Short entry zone
Short entry between 4,337 and 4,343 with first support at 4,290.
Key resistance level
4,340 acts as critical resistance for immediate bearish momentum.
Potential downside
Price could fall to 4,290 before targeting 4,278, 4,271.
Rejection signal
Price struggles to hold above resistance after rapid move into 4,340 area.
The main idea
Gold rejected 4,337, 4,343 resistance, signaling a possible short-term bearish move.
