M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
Gold Price Forecast may continue to trade under the bearish bias on h1 time frame, as Gold Price Forecast holds the staying below the resistance at 4740.502 on h1 time frame. Meanwhile the Gold Price Forecast remains aligned with same resistance zone which was established yesterday on h1 time frame. In addition, the m15 time frame remains bearish, as the price stay below the resistance at 4610.477 on m15 time frame. Meanwhile the pending resistance zone would remain valid on m15 and h1 both the time frame.
Resistance Zones
M15 Resistance Zone
4628.345 – 4635.148
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4726.324 – 4740.502
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
As the price trades under the bearish bias on m15 time frame. Therefore the price hasn’t secured any fresh, nearby or pending support zone on m15 time frame. Meanwhile awaiting for breakout confirmation.
H1 Support Zone
4546.989 – 4529.960
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the price may maintain the bearish bias on h1 time frame, as price operates below the resistance at 4740.502 on h1 time frame. However a move above 4740.502 on h1 time frame. As a result price may reinforce the bullish bias and introduce the fresh support at 4658.545 – 4672.031 on h1 time frame. Moreover, a decisive close above 4710.477 on m15 time frame, amy signal the initiation of bullish momentum and set up the fresh support at 4582.812 – 4575.896 on m15 time frame.
Nyc Session Outlook
However the price could continue to respect the bearish structure on h1 time frame. Therefore the price continuing above the prior resistance at 4740.502 on h1 time frame. Meanwhile the price trades trade between the previously established resistance zone on h1 and m15 time frame. Therefore the resistance zone would remain unchanged and would act as the valid resistance zone on h1 and m15 time frame. Moreover, the m15 may continue its bearish structure, as long as the remain below the resistance at 4735.148 on m15. Moreover, acceptance below 4551.967 on m15 time, may signal the continuation of bearish bias and may build the fresh resistance at 4572.009 – 4576.467 on m15.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
4628.345 – 4635.148
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4726.324 – 4740.502
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
As the price trades under the bearish bias on m15 time frame. Therefore the price hasn’t secured any fresh, nearby or pending support zone on m15 time frame. Meanwhile awaiting for breakout confirmation.
H1 Support Zone
4546.989 – 4529.960
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may stay under the bearish structure on h1 time frame, as price hovering below the resistance at 4740.502 on h1 time frame. Meanwhile, a finish above 4740.502 on h1 time frame. As a result price may secure the bullish momentum and may identify the fresh support at 4658.545 – 4672.031 on h1 time frame. In addition, a settled close beyond 4635.148 on m15 time frame, may confirm the initiation of bullish momentum and mark out the fresh support at 4620.487 – 4614.907 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