M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
Nyc Session Overview
Gold Price Forecast secured the bearish bias yesterday amid the nyc session on h1 time frame. Therefore the Gold Price Forecast breakdown below the nearby support at 4722.013 on h1 time frame. In addition, the Gold Price Forecast continue to respect the active previous resistance zone at 4743 on h1 time frame. On the other hand, m15 time remains respected towards higher time frame bearish bias, while trading below the latest resistance at 4734.915 on m15 time frame. Meanwhile the pending supply area’s would remain effective on m15 time frame.
Resistance Zones
M15 Resistance Zone
4743.221 – 4753.471
Pending Supply Zone
Short Term Resistance Area
H1 Resistance Zone
4743.221 – 4753.471
Pending Supply Zone
Higher Time Frame Sell Area
Support Zones
M15 Support Zone
As the price is under the bearish pressure on m15 time frame. Therefore the price hasn’t secured any fresh support on m15 time frame. Meanwhile looking for the fresh breakout.
H1 Support Zone
4510.643 – 4501.270
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may manage to hold the bearish bias on h1 time frame. As a result price operates above prior resistance at 4753.471 on h1 time frame. In addition, a decisive close above 4753.471 on h1 time frame, as the price could confirm the upside continuation and may shape the fresh support at 4753.471 – 4743.221 on h1 time frame. In addition, a confirmed close above 4734.845 on m15 time frame, as the price may signal the bullish shift and form the fresh support at 4724.152 – 4732.969 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