From TradingView · · 1m 20s
Gold Stuck Between Support and Resistance
Gold faces tight squeeze between 4,105 and 4,155 as buyers and sellers battle for control.
In brief
Gold faces tight squeeze between 4,105 and 4,155 as buyers and sellers battle for control. Gold is stuck in a technical squeeze between 4,105 and 4,155 with a potential breakout above 4,155 determining next move. Originally reported by TradingView.
Current Gold Price
Gold is trading around 4,123 with weaker recovery attempts and sellers struggling to push below 4,110, 4,155.
Macro Pressure on Gold
The US dollar remains strong after Fed's September 25 rate hike, limiting gold's upside potential.
Buyer Defense Zone
Buyers are defending 4,105, 4,112 but failed to establish bullish continuation above 4,185, 4,190.
Trendline Compression
Gold is squeezed between descending resistance at 4,128, 4,135 and rising support at 4,073.
Bullish Breakout Target
A confirmed breakout above 4,128, 4,135 could reach 4,155, 4,156 before 4,183, 4,190.
Bearish Breakdown Risk
Sustained break below 4,105 could trigger a drop toward 4,073, 4,080.
Key Price Zones
Immediate resistance: 4,128, 4,135; immediate support: 4,105, 4,112; major resistance: 4,183, 4,190.
Felix's View
Gold may break the triangle but the reaction at 4,155 and 4,190 will determine if recovery has strength.
What Happens Next
Gold could break above 4,155 to challenge 4,190 or fall back to 4,105 as sellers regain control.
The key point
Gold is stuck in a technical squeeze between 4,105 and 4,155 with a potential breakout above 4,155 determining next move.
