M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
However the Gold Price Forecast may continue the bearish structure on h1. Meanwhile the Gold Price Forecast failed to hold the last support at 4698 on h1, price shifted its character from bullish to bearish. Meanwhile Gold Price Forecast hasn’t established any fresh resistance on h1. Moreover the m15 time frame trades in the bullish price structure and Gold Price Forecast the shifted the character from bearish to bullish as the Gold Price Forecast closes above 44733 on m15. Therefore the Gold Price Forecast exposed the fresh support at 4725 on m15. In addition, if Gold Price Forecast finishes below 4644 on h1 then the Gold Price Forecast may develop the fresh resistance at 4734.000 – 4740.058 on h1
Resistance Zones
M15 Resistance Zone
4750.642 – 4754.329
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4891.274 – 4898.728
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
4725.650 – 4720.914
Fresh Demand Zone
Short Term Key Support Base
H1 Support Zone
4610.388 – 4600.981
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the price may carry on bearish price structure on h1 time frame, as the price respects last key resistance zone at 4801.452 on h1. Therefore a sustain close above 4801.452 on h1 time frame. As a result price may signal the character shift to the bullish side and could create the fresh support at 4707.413 – 4699.442 on h1. On the other hand, a close below 4720.914 may signal the character shift to bullish side and may develop the fresh resistance at 4731.807 – 4732.652 on m15 time frame. In addition until 4720.914 remains intact on m15, short term upside may remain intact.
Nyc Session Update
Although the price is expected to trade under the bearish price structure, as the price stay below the last resistance at 4801.452 on h1. Meanwhile the m15 time frame shifted its structure from bullish to bearish as the price closes below the last support at 4720.914 on m15 and confirmed the fresh resistance at 4722.192 on m15. In addition, the h1 time frame hasn’t created any fresh resistance on h1. Therefore the pending zone would remain valid on h1 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
4722.192 – 4729.201
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4891.274 – 4898.728
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
4725.650 – 4720.914
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
4610.388 – 4600.981
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may trade in bearish price structure on h1 time frame. As a result, price trades below the last key resistance zone at 4801.452 on h1. Therefore a decisive close above 4801.452 on h1 time frame. As a result price may shape the character shift to the bullish side and could develop the fresh support at 4707.413 – 4699.442 on h1. On the other hand, a close above 4729.201 could signal the character shift to bullish side and may create the fresh support at 4712.554 – 4708.549 on m15 time frame. In addition until 4712.554 remains intact on m15, further downside may remain intact.
Key Takeways
Trend: Bearish
Bias: Sell On Rise
Follow H1 Structure
Disclaimer
Although this analysis is for educational and informational purposes only. Therefore it does not constitute financial advice. However always manage your risk and trade responsibly.
In addition, check out my Previous Gold Price Forecast
Moreover, for daily gold chart analysis, refer my Gold XAUUSD Analysis section