GOLD is showing signs of continued weakness on the 1H timeframe after breaking down from consolidation and losing key support near 3269What’s happening
Price has dropped below the 3269 trigger level confirming a bearish break
We’re now seeing momentum pick up with multiple downside targets in focus
3247 – 3212 – 3167 – 3136
Previous support has now turned into resistance, and unless bulls reclaim that area, sellers may remain in control...
Resistance levels 3269 – 3331 – 3367
Support targets levels 3247 - 3212 - 3167 - 3136
This could present a short-term bearish opportunity if price retests and rejects the trigger zone A measured move toward support areas could unfold if selling pressure continues...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.