From TradingView · · 50s
Gold Selling Opportunity at 4,145
Gold faces short-term sell pressure near $4,145 resistance.
In brief
Gold faces short-term sell pressure near $4,145 resistance. Gold could drop to $4,000 after failing to hold $4,145 resistance. Originally reported by TradingView.
Gold's Bearish Pattern
Gold has struggled to reverse recent declines with repeated failed rallies.
Key Resistance Level
Price near $4,126.98 with support at $4,145, 4,175 for potential entry.
First Rejection Zone
A bounce toward $4,145, 4,175 could face selling pressure before a clear reversal.
Confirmation for Bearish Move
A four-hour candle closing below the latest swing low would confirm bearish continuation.
Second Resistance Level
A stronger bounce could target $4,199.22 followed by $4,210, 4,230 supply area.
Downside Targets
If resistance fails, gold could drop to $4,080 then $4,058.31 before $4,000.
Exit Level for Strategy
An eight-hour close above $4,251.44 would invalidate the bearish selling plan.
The one thing
Gold could drop to $4,000 after failing to hold $4,145 resistance.
