Gold is showing a clear bearish market structure after a strong impulsive drop. Price is currently retracing into a key supply zone around 4580ā4600, which aligns with previous support turned resistance.
š Key Levels:
* Supply Zone: 4580 ā 4600
* Current Price: 4380
* Target Zone: 4175
š Scenario:
Iām watching for price to push slightly higher into the marked supply zone, where sellers are likely to step in. If we see rejection (weak candles / wicks / bearish confirmation), this could offer a solid short opportunity.
šÆ Targets:
* First reaction: 4350
* Main target: 4175 (major support)
ā ļø Invalidation:
A strong break and close above 4600 would invalidate the bearish idea.
Patience is key here ā let price come to the zone and confirm before entering.
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