M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
Although the Gold Price Forecast is expected to stay with in the bearish structure on h1 time frame. As a result Gold Price Forecast trades below the last resistance at 4801.452 on h1. Meanwhile the Gold Price Forecast hasn’t established any fresh resistance zone on h1 time frame. In addition the m15 time frame shifted its character to the bullish side as the Gold Price Forecast closes above 4739 on m15 time frame during the mid nyc session yesterday. As a result Gold Price Forecast set up the fresh support zone at 4761 on m15 time frame.
Support Zones
M15 Support Zone
4761.144 – 4757.923
Fresh Demand Zone
Short Term Key Support Base
H1 Support Zone
4610.388 – 4600.981
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
4805.442 – 4807.312
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4891.198 – 4898.728
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price is expected to remain under the bearish structure on h1 time frame, as the price trades below the key resistance zone at 4801. Therefore, a decisive close above 4801 on h1 time frame. As a result the price may support the bullish bias and may create the fresh support zone at 4707.413 – 4699.442 on h1. In addition, a sustain close below 4757 on m15 time frame. As a result price may validate the character shift to the bearish side and could create the fresh resistance at 4775.137 – 4777.183 on m15 time frame. Moreover, as long as the price holds 4757 on m15 the further upside momentum may remain intact.
Nyc Session Outlook
Although the may maintain to trade in bearish bias on h1 time frame, as the price hold the last resistance at 4801 on h1. Meanwhile the m15 time frame continuing the bullish structure. However the price hasn’t established any fresh support zone on m15 time frame. In addition, the h1 established any fresh resistance zone on h1 time frame. Therefore the pending zone would remain valid on both the time frame h1 and m15.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
4805.442 – 4807.312
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4891.198 – 4898.728
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
4610.388 – 4600.981
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price is likely to trade under the bearish structure on h1 time frame, as the price trades with in the key resistance zone at 4801. Therefore, a sustained close above 4796.665 on h1 time frame. As a result the price could signal the bullish bias and could create the fresh support zone at 4768.545 – 4751.328 on h1. In addition, a decisive close below 4757 on m15 time frame. As a result price could validate the structure shift to the bearish side and may create the fresh resistance at 4775.137 – 4777.183 on m15 time frame. Moreover, as long as the price holds 4757 on m15 the further upside momentum may remain intact.
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