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 continue to favor sellers on h1. Therefore the Gold Price Forecast operates below the near by resistance at 4797 on h1. Meanwhile the Gold Price Forecast remain aligned with the previous resistance zone on h1. In addition, the m15 shaped the fresh resistance at 4716, by giving the breakdown confirmation below 4664 on m15 time frame. Moreover, a define close below 4668.823 on h1. As a result the h1 time may strengthen the bearish bias and could form the fresh resistance at 4767 on h1 time frame. Moreover, sustained close below 4658 on m15. As a result Gold Price Forecast could indicate the continuation of bearish momentum and could signal the fresh resistance at 4686.522 – 4688.113 on m15.
Resistance Zones
M15 Resistance Zone
4716.727 – 4720.442
Fresh Supply Zone
Short Term Key Resistanec Zone
H1 Resistance Zone
4794.589 – 4797.986
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
Although the price trdaes in bearish structure on m15 time frame. Therefore the price hasn’t developed any fresh or near by support. Meanwhile awaiting for the breakout confirmation.
H1 Support Zone
4610.388 – 4600.981
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the price may continue to hold the bearish bias on h1 time frame. However the price hovers below the latest resistance at 4797 on h1 time frame. However, if price records a close above 4797 on h1 time frame. Therefore the price may reinforce the bullish meomntum shift and could from the fresh support at 4778.495 – 4773.085 on h1 time frame. On other hand, a settled close above 4720 on m15 time frame. As a resut price may support bullish momentum and may build teh fresh support at 4677.611 – 4664.659 on m15 time frame.
Nyc Session Outlook
However the price may remain favorable to the sellers on h1 time frame. Therefore the price trades below the latest resistance at 4797 on h1 time frame. Meanwhile the m15 shifted the character to the bullish side. As a result price closes above 4697 on m15 time frame and formed the fresh support at 4678.985 on m15 time frame. In addition the h1 pending resistance zone would remain valid and active on h1 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
4747.698 – 4754.262
Pending Supply Zone
Short Term Key Resistanec Zone
H1 Resistance Zone
4794.589 – 4797.986
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
4678.985 – 4675.087
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 carry on the bearish momentum on h1 time frame. Therefore the price trades below the latest resistance at 4797 on h1 time frame. Meanwhile, acceptance above 4797 on h1 time frame. Therefore the price could reinforce the bullish bias shift and may print the fresh support at 4778.495 – 4773.085 on h1 time frame. In addition, a sustained close below 4675.087on m15 time frame. As a resut price could support bearish structure and could build the fresh resistance at 4695.394 – 4696.829 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