🔴 XAU/USD – Bearish Rejection at Key Resistance Zone ($3,432)
🔍 Technical Outlook
Gold (XAU/USD) failed to break through the $3,429–$3,432 resistance zone, which aligns with a descending trendline (TL1) and prior swing high. The rejection from this confluence zone is reinforcing bearish pressure, with price now carving out lower highs on the 4H timeframe.
A clean break below $3,412 would confirm bearish continuation and open the door toward the $3,400 area, followed by the demand zone at $3,368–$3,365.
🔻 Short Setup
Entry: 3,432
Stop Loss: 3,436
Take Profit 1: 3,412
Take Profit 2: 3,396
R\:R Ratio: ≈ 1 : 6.95
Invalidation: Close above 3,436
📌 Key Levels
Resistance: 3,429 – 3,432
Support 1: 3,412
Support 2: 3,368 – 3,365
Trendline: Long-term descending resistance acting as ceiling
📘 Summary
Gold remains capped beneath a critical resistance cluster. The rejection around $3,432 could trigger a deeper pullback toward $3,396, especially if sellers push price below $3,412. Bearish bias remains valid while price holds under the trendline.
📉 Bias: Bearish
📈 Confirmation Trigger: Break below $3,412
⚠️ Invalidation Level: Above $3,436
🔍 Technical Outlook
Gold (XAU/USD) failed to break through the $3,429–$3,432 resistance zone, which aligns with a descending trendline (TL1) and prior swing high. The rejection from this confluence zone is reinforcing bearish pressure, with price now carving out lower highs on the 4H timeframe.
A clean break below $3,412 would confirm bearish continuation and open the door toward the $3,400 area, followed by the demand zone at $3,368–$3,365.
🔻 Short Setup
Entry: 3,432
Stop Loss: 3,436
Take Profit 1: 3,412
Take Profit 2: 3,396
R\:R Ratio: ≈ 1 : 6.95
Invalidation: Close above 3,436
📌 Key Levels
Resistance: 3,429 – 3,432
Support 1: 3,412
Support 2: 3,368 – 3,365
Trendline: Long-term descending resistance acting as ceiling
📘 Summary
Gold remains capped beneath a critical resistance cluster. The rejection around $3,432 could trigger a deeper pullback toward $3,396, especially if sellers push price below $3,412. Bearish bias remains valid while price holds under the trendline.
📉 Bias: Bearish
📈 Confirmation Trigger: Break below $3,412
⚠️ Invalidation Level: Above $3,436
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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.
ATFX is a globally regulated, award-winning fintech broker offering customer support in 20 languages.
👉🏼Start your trading journey with ATFX: bit.ly/3mLMPHz
👉🏼Start your trading journey with ATFX: bit.ly/3mLMPHz
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.