Gold – Bearish Rejection from Resistance | 1H Analysis

26 Mar

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Gold is showing signs of rejection from the resistance zone near 3047 (All-Time High region), indicating a potential bearish move. The price is struggling to break higher, suggesting a downside move toward the support level at 3004 and possibly the strong demand zone below 2980.

Technical Analysis
Strong resistance at 3047, with multiple rejections
Bearish price action forming lower highs
Targeting support at 3004; further breakdown could lead to the demand zone

Fundamental Outlook
Stronger USD & hawkish Fed stance adding pressure on gold
Profit-taking at ATH levels contributing to potential retracement

Bias
Bearish below 3047 – A move below 3004 could accelerate downside momentum. Watch for confirmations before entering short positions.

26 Mar

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