M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
However the Gold Price Forecast may continues to back the sellers on h1 time frame. Meanwhile the Gold Price Forecast remains aligned with the yesterday’s bearish bias on h1 time frame. As a result Gold Price Forecast hover below the recent resistance at 4750 on h1 time frame. Meanwhile the Gold Price Forecast secured a fresh resistance on h1 time frame at 4741. On the other hand m15 time frame shifted the bias to the bullish side, while secured a close above at 4710 on m15 time frame. Meanwhile Gold Price Forecast established the fresh support zone at 4701 on m15 time frame. Moreover, a close below 4694 on h1 time frame, would confirm the bearish structure intact and form the fresh resistance at 4747.719 – <
4754.079 on h1 time frame.
Resistance Zones
M15 Resistance Zone
4730.192 – 4733.268
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
4741.725 – 4750.182
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
4701.746 – 4691.712
Fresh Demand Zone
Short Term Key Support Base
H1 Support Zone
4610.388 – 4600.981
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the price may continue to benefit the sellers on h1 time frame. As a result price operates below the latest resistance at 4750 on h1 time frame. Meanwhile ,a close above 4750 on h1 time frame. As a result price may shift the momentum to the bullish side and establish the fresh support at 4727.975 – 4724.122 on h1 time frame. In addition, a define close below 4692 on m15 time frame, the price may signal the change of character to the bearish side and may set up the fresh resistance at 4707.777 – 4710.302 on m15 time frame.
Nyc Session Outlook
However the price still leans to the sellers aide on h1 time frame. As the price trades below the last resistance at 4750 on h1 time frame. Meanwhile the m15 time frame changed its bias to the bearish side while giving the decisive close below 4692 on m15 time frame. Therefore the price hasn’t introduced any fresh resistance on m15 time frame, as the previous resistance at 4708 on m15 time frame. In addition, the price remains aligned with previous resistance zones on h1 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
4730.192 – 4733.268
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
4741.725 – 4750.182
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
No fresh support zone formed by the price on m15 time frame. As the previous demand zones already tapped by the price on m15 time frame. Therefore awaiting for fresh breakout confirmation
H1 Support Zone
4610.388 – 4600.981
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the price may carry on the downside momentum on h1 time frame. As a result price remain capped below the latest resistance at 4750 on h1 time frame. Meanwhile ,acceptance above 4750 on h1 time frame. As a result price could shift the momentum to the bullish side and set up the fresh support at 4727.975 – 4724.122 on h1 time frame. In addition, a secured close above 4715 on m15 time frame, the price may confirm the change of character to the buyers side and may introduce the fresh support at 4710.474 – 4708.019 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