M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
Although the Gold Price Forecast may carry on bearish extension on time frame. As a result Gold Price Forecast continuing the yesterday’s downside momentum and the Gold Price Forecast remains aligned to the last resistance at 4797 on h1 time frame. On the other hand, the m15 time frame continuing with the bullish trend. As a result Gold Price Forecast shifted m15 structure to the bullish side, as the Gold Price Forecast confirmed fresh support at 4754 on m15 time frame. Moreover, a close below 4668 on h1 time frame. Meanwhile the Gold Price Forecast could continue to the downside extension and may form the fresh resistance on h1. Until the Gold Price Forecast holds 4752.376 on m15 time frame, short term bullish extension would remain intact.
Resistance Zones
M15 Resistance Zone
4789.234 – 4794.545
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4794.589 – 4797.986
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
4754.754 – 4752.376
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
However the price may keep favoring the downside momentum on h1 time frame. As a result price continue to honor the last resistance at 4797.596 on h1. Therefore, a sustained close above 4797.596 on h1 time frame. However the price may support the bullish bias and establish the fresh support at 4783.908 on h1 time frame. In addition, acceptance below 4752.376 on m15 time frame. Meanwhile the price may strengthen bearish bias and set up the fresh resistance at 4763.106 – 4765.080 on m15 time frame.
Nyc Session Outlook
Although the price remain supportive to the sellers side on h1 time frame. As the price trades below the recent resistance at 4797.596 on h1 time frame. Meanwhile the price trades with the previous valid resistance 4794.589 on h1 time frame. In addition the m15 time frame initiated the bearish momentum as the price accepted the close below 4752 on m15 time frame. As a result price established the fresh resistance at 4762.993 on m15. Moreover, a breakdown below 4746 on m15, the price may form the fresh resistance at 4759.419 – 4760.556 on m15 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
4762.993 – 4764.915
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4794.589 – 4797.986
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
4738.464 – 4735.940
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 carry on the downside momentum on h1 time frame. As a result price continue to capped below the last resistance at 4797.596 on h1. Meanwhile, a close above 4797.596 on h1 time frame. However the price could support the bullish bias and form the fresh support at 4783.908 on h1 time frame. Moreover, if price settled above 4772.442 on m15 time frame. Meanwhile the price may signal the shift of bearish to bullish bias and generate the fresh support at 4764.915 – 4762.993 on m15 time frame.
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