M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Session Overview
Gold Price Forecast could stay with the bearish structure on h1 time frame. Meanwhile the structure continue to defend the latest high at 4564.616 on h1 time frame. However the sellers confirms the fresh distribution zone at 4559.533 on h1 time frame. Moreover, the m15 time frame performs under the bearish bias, while the sellers operates below the recent high at 4552.028 on m15 time frame. As a result Gold Price Forecast identified the fresh selling zone at 4562.756 on m15 time frame.
Supply Zones
M15 Supply Zone
4562. 756 – 4566.804
Latest Selling Area
Likely Sell reaction Area
H1 Supply Zone
4559.533 – 4564.616
Fresh Distribution Area
Multi Time Frame Resistance Region
Demand Zones
M15 Demand Zone
4426.167 – 4417.953
Old Support Base
Multi Time Frame Support Area
H1 Demand Zone
4432.137 – 4417.953
Pending Accumulation Area
Multi Time Frame Support Base
Session Strategy
Although the sellers may maintain their bearish structure on h1 time frame. However the sellers could hold the last high at 4564.616 on h1 time frame. Meanwhile, if price sustains above 4564.616 on h1 time frame. As a result the buyers could initiate their dominance and confirms the fresh support at 4540.203 – 4530.116 on h1 time frame. On the other hand, if price holds above 4552.028 on m15 time frame. However the bulls may initiate their continuation and may secures the fresh support at 4531.265 – 4530.109 on m15 time frame.
Nyc Session Outlook
However the structure may maintain the bearish structure on h1 time frame, as the sellers remains effective below the prior high at 4564.616 on h1 time frame. Although the structure trades under unchanged supply zone on h1 time frame. In addition, the buyers established their dominance, as the structure accepts close above the resistance at 4551.952 and shape the fresh demand at 4536.192 on m15 time frame.
Key Supply & Demand Zone
Supply Zones
M15 Supply Zone
4586.109 – 4588.826
Prior Selling Area
Likely Sell reaction Area
H1 Supply Zone
4682.173 – 4686.123
Old Distribution Area
Multi Time Frame Resistance Region
Demand Zones
M15 Demand Zone
4536.192 – 4532.055
Latest Support Base
Multi Time Frame Support Area
H1 Demand Zone
4432.137 – 4417.953
Pending Accumulation Area
Multi Time Frame Support Base
Session Strategy
Although the sellers may hold the bearish structure on h1 time frame. However, the price stay below the historic high at 4564.616 on h1 time frame. However, a breakout above 4564.616 on h1 time frame. Meanwhile the bulls may markout their bullish momentum and could generate the fresh support at 4540.203 – 4530.116 on h1 time frame. In addition, a breakdown below 4532.055 on m15 time frame. As a result the sellers may takeover the m15 time frame and may produce the latest resistance at 4550.573 – 4560.029 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