GOLD Price Update Clean and clear Explanation

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Gold price action on the 1-hour timeframe. The analysis highlights how price has been reacting to a key descending trendline and important support/resistance zones.

1️⃣ Downtrend Structure & Trendline Rejection

The chart shows a clearly defined descending trendline drawn from previous highs.
Every time the price has approached this upper boundary, it has shown strong rejection, confirming continuous selling pressure you highlighted one major rejection point where the price tried to push above the trendline but was aggressively pushed back down. This reinforces the idea that sellers are still respecting this trendline and defending it consistently.

2️⃣ Current Market Behaviour

Price is currently trading just below this trendline chart indicates that unless the 1H candle closes above the 4200 zone, the market is likely to resume its downward movement this suggests a bearish structure remains intact as long as price stays under the 4200 resistance level.

3️⃣ Key Support Zones

Two major support areas are marked:
• First Support Zone around 4172
• Second Support Zone near 4160

These areas are likely to act as targets if the price continues to fall, offering potential take-profit levels for sellers. They also represent regions where buyers might step in, so traders will be watching how price reacts there.

4️⃣ Trade Concept Illustrated

You have visually outlined a short (sell) trade idea:
• Price is expected to retest the descending trendline.
• If the rejection continues, price is projected to drop downward toward the lower support zones.
• The green zone represents the potential profit area, while the red zone shows the risk if price breaks above resistance.

This visually communicates a trend continuation setup, where traders follow the prevailing downtrend instead of counter-trading.

5️⃣ Overall Interpretation

Your chart analysis suggests:
• Gold is still respecting the downtrend.
• Sellers are active around the trendline.
• Continued bearish movement is expected unless price breaks above the 4200 level with a strong candle close.
• The support zones below provide clear levels where price may slow down or reverse.

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12 saat önce

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If the price does not cross the level 4230 we could expect bearish zone