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 continue towards the downside structure on h1 time frame. Meanwhile the Gold Price Forecast remain capped below the recent resistance at 4740.557 on h1 time frame. However the Gold Price Forecast formed the fresh resistance at 4726.445 on h1 time frame. Moreover, the m15 time frame may continue its bearish extension, until the Gold Price Forecast remains below 4676.217 on m15 time frame. Meanwhile Gold Price Forecast confirmed the fresh resistance at 4674.985 on m15 time frame. On the other hand, a finish below 4624.237 on m15 time frame, may open the door for further downside and establish the fresh resistance at 4640.705 – 4643.170 on m15 time frame
Resistance Zones
M15 Resistance Zone
4674.985 – 4676.217
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4726.445 – 4740.557
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
The price continues under bearish momentum on m15 time frame. Therefore the price hasn’t established any fresh, nearby or pending support zone on m15 time frame. Meanwhile awaiting for the fresh breakout confirmation.
H1 Support Zone
4610.388 – 4600.981
Pending Demand Zone
Higher Time Frame Resistance Region
Session Strategy
However the structure may remain tilted to the bearish side on h1 time frame, as price holds the resistance at 4740.557 on h1 time frame. Meanwhile acceptance above 4740.557 on h1 time frame. As a result price could shift the momentum to the bullish and form the fresh support at 4672.254 – 4658.327 on h1 time frame. Moreover, if price ends above 4676.217 on m15 time frame. Meanwhile the price may support bullish momentum and could build the fresh support at 4669.154 – 4666.792 on m15 time frame.
Nyc Session Outlook
Although the price could continue to respect the bearish momentum on h1 time frame, as the price operates below the resistance at 4740.557 on h1 time frame. Meanwhile the price remains aligned with the previous identified resistance zone on h1 time frame. Therefore the pending resistance zone would remain active on h1 time frame. On the other hand, m15 time frame developed the fresh resistance at 4628.797, as the price break’s below 4614 on m15 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
4628.797 – 4635.148
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4726.445 – 4740.557
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
The price continues under bearish momentum on m15 time frame. Therefore the price hasn’t established any fresh, nearby or pending support zone on m15 time frame. Meanwhile awaiting for the fresh breakout confirmation.
H1 Support Zone
4546.989 – 4529.960
Pending Demand Zone
Higher Time Frame Resistance Region
Session Strategy
However the price is expected to stay under the bearish momentum on h1 time frame, as price respects the resistance at 4740.557 on h1 time frame. Therefore, a move above 4740.557 on h1 time frame. As a result price may reinforce the bullish bias and establish the fresh support at 4672.254 – 4658.327 on h1 time frame. In addition, a break above 4635.148 on m15 time frame. Meanwhile the price may signal the bullish structure shift and may build the fresh support at 4620.411 – 4614.992 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