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, shifted it’s character on shorter timeframe form bearish to bullish on m15 time frame during mid asian session. Meanwhile forming the support at 5077 today but higher time frame structure remains bearish.
Resistance Zones
M15 Resistance Zone
5189.971 – 5191.051
Intraday Supply Zone
Anticipated short-term Resistance Area
H1 Resistance Zone
5367.309 – 5375.884
Pending Supply Zone
Higher timeframe Resistance Area
Support Zones
M15 Support Zone
5077.155 – 5066.728
Short term intraday demand zone
H1 Support Zone
4961.422 – 4960.656
Pending Demand Zone
High-Probability Support Zone
Session Strategy
Although the Gold Price Forecast remains bearish on higher timeframe but the Gold Price Forecast shifted it’s character in m15. In addition, if price closes above 5206 on h1 time frame then 5077 could act as the fresh support. On the other hand, as the price would establish the character shift on higher time frame. In addition, if the price decisively close below 5066 on m15 time frame then 5102 may act as the new resistance. Until that resistance remains valid at 5189 and support at 5077.
Nyc Session Outlook
Although the Gold Price Forecast remains bearish in higher time frame. Meanwhile the short term structure remains bullish on m15 time frame as the price took support at intraday demand zone at 5077. Moreover the Gold Price Forecast hasn’t established any fresh resistance in higher time frame. Furthermore would remain intact, until the price holds last resistance at 5063 on higher time frame h1.
Key Resistance and Support Zones
M15 Resistance Zone
5189.971 – 5191.051
Intraday Supply Zone
Anticipated short-term Resistance Area
H1 Resistance Zone
5367.309 – 5375.884
Pending Supply Zone
Higher timeframe Resistance Area
Support Zones
M15 Support Zone
5077.155 – 5066.728
Short term intraday demand zone
Already tapped but still valid
H1 Support Zone
4961.422 – 4960.656
Pending Demand Zone
High-Probability Support Zone
Session Strategy
Although the higher timeframe structure remains bearish. Meanwhile the short term bias remains bullish. As long as the price holds 5066 on m15 time frame. In addition, a break below 5066 then 5102 may act as fresh resistance. Meanwhile the short term resistance will remain at 5189.971. Moreover the higher timeframe resistance will remain at 5367.309 and higher support remain at 4961.422. As long as the price holds the last resistance at 5367.309. As a result, furthermore downside 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. Therefore always manage your risk and trade responsibly.
In addition, check out my Previous Gold Price Forecast
For daily gold chart analysis, refer my Gold XAUUSD Analysis section