M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
Although the h1 time frame following the yesterday’s bearish structure and trading below the last resistance at 4891 on h1 time frame. Meanwhile the Gold Price Forecast trades with the yesterday’s resistance zone at 4847.129 on h1 time frame. On the other hand, the m15 time frame following h1 bearish structure and formed the fresh resistance at 4823 on m15 time frame. However the pending resistance zone would remain active on h1 time frame. As a result Gold Price Forecast hasn’t confirmed any fresh resistance zone on h1 yet. As long as the Gold Price Forecast holds the last resistance 4891 on h1 time frame, the downside extension may remain intact.
Resistance Zones
M15 Resistance Zone
4823.391 – 4827.543
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4847.129 – 4871.208
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
4727.587 – 4723.621
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
4707.172 – 4698.849
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the Gold Price Forecast may continue to respect the bearish bias on h1 time frame. As a result Gold Price Forecast operates below the last resistance at 4891 on h1 time frame. Therefore, a move above 4833 on h1 time frame. As a result Gold Price Forecast would establish character shift to the bullish side and would confirm the fresh support at 4871.208 – 4847.129 on h1 time frame. Meanwhile, a close above 4833 on m15 time frame. However the Gold Price Forecast may change the bias to bullish side and may introduce the fresh support at 4827.543 – 4823.391 on m15.
Nyc Session Outlook
However the price may continue to support the sellers on h1 time frame, as the price holds the last resistance at 4891 on h1 time frame. Meanwhile the price remains with in the existing levels. As a result, no fresh resistance zones established on both the time frames yet.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
4823.391 – 4827.543
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4847.129 – 4871.208
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
4727.587 – 4723.621
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
4707.172 – 4698.849
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the price may remains favorable for bearish bias on h1 time frame. As a result price trades below the last resistance at 4891 on h1 time frame. Meanwhile, a close above 4833 on h1 time frame. As a result price could establish character shift to the bullish side and may confirm the fresh support at 4871.208 – 4847.129 on h1 time frame. In addition, a define close above 4833 on m15 time frame. However the price could change the bias to bullish side and would introduce the fresh support at 4827.543 – 4823.391 on m15.
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