From TradingView · · 1m 20s
Gold Targets 4085 After Bearish Shift
Gold may drop to 4085 as it tests key support zones after rejecting 4180-4185 order block.
In brief
Gold may drop to 4085 as it tests key support zones after rejecting 4180-4185 order block. Gold could fall to 4085 following rejection of 4180-4185 order block with bearish continuation likely. Originally reported by TradingView.
Gold enters bearish phase
Gold has entered a strong bearish phase on the H1 timeframe after being rejected from the 4180, 4185 Order Block.
Key resistance zones
The 4142, 4147 Small OB now represents the nearest important resistance zone while the 4115, 4130 Fair Value Gap is the main downside area.
Primary scenario
Price may attempt a corrective rebound before continuing lower if it reacts around the Fair Value Gap and the Small OB.
Main support zone
The main downside area to monitor is 4078, 4086 with SSL near 4067 as a deeper liquidity objective if support fails.
Preferred entry zone
The preferred setup is a rebound into 4142, 4147 followed by rejection from the Small OB with bearish confirmation.
Secondary scenario
If gold finds demand within 4115, 4130, it may recover toward 4135, 4140 before testing the Small OB at 4142, 4147.
Price roadmap
Price may move through 4105, 4085 before testing 4067 liquidity if the support zone fails.
The key point
Gold could fall to 4085 following rejection of 4180-4185 order block with bearish continuation likely.
