Gold is currently showing a strong bearish structure after breaking multiple key levels. Price initially formed a range, followed by a clear breakout to the downside, confirming seller dominance.
Now we can see price consolidating below resistance, with potential for a retest of the supply zone (4500 ā 4600 area) before continuing downward.
š Key Levels:
Resistance Zone: 4500 ā 4600
Support Zone: 4160 ā 4200
š Plan: If price pushes into the resistance zone and shows rejection, we can expect another bearish move targeting the support area.
ā ļø Note: Wait for confirmation (rejection / weak bullish momentum) before entering trades. Avoid chasing the market