M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Session Overview
Gold Price Forecast established the sellers favored structure on h1 time frame, as the buyers accepted close below the last low at 4480.577 on h1 time frame in the asian session today. Meanwhile the sellers introduced the fresh restriction area at 4529.958 on h1 time frame. However the bullish structure established by the price on the m15 time frame. As a result the price generated fresh accumulation zone 4467.379 on m15 time frame. Moreover, a structured close below 4454.017, could build the fresh distribution zone at 4500.783 – 4480.557 on H1 structure.
Resistance Zones
M15 Resistance Zone
4509.042 – 4512.609
Pending Distribution Boundary
Intraday Supply Area
H1 Resistance Zone
4529.958 – 4539.979
Fresh Restriction Boundary
Key Resistance Region
Support Zones
M15 Support Zone
4467.379 – 4461.860
Fresh Demand Base
Probable Accumulation Region
H1 Support Zone
4432.137 – 4417.953
Old Buyers Area
Higher Probability Support Boundary
Session Strategy
Although the sellers remain tilted towards the bearish structure on h1 time frame. Therefore the bearish would remain below the recent high at 4589.699 on h1 time frame. However, if price manages to close above 4589.699 on h1 time frame, could call the bulls again and from the fresh support at 4515.451 – 4480.577 on h1 time frame. Meanwhile, breakdown below 4461.860 on m15 time frame. As a result price may define the bearish bias and shape the fresh supply at 4472.789 – 4477.675 on m15 time frame.
Nyc Session Outlook
However the selling interest may stay strong on h1 time frame. Meanwhile the sellers defends the previous high at 4589.699 on h1 time frame. Although the sellers continuing bearish bias with the old supply region on h1 time frame. On the other hand, the price stay favorable for the buyers, while trading above the recent low at 4473.188 on m15 time frame. Although the price confirmed the fresh support boundary at 4486.025 on m15 time frame.
Key Resistance & Supply Zone
Resistance Zones
M15 Resistance Zone
4509.042 – 4512.609
Pending Distribution Boundary
Intraday Supply Area
H1 Resistance Zone
4529.958 – 4539.979
Previous Restriction Boundary
Key Resistance Region
Support Zones
M15 Support Zone
4486.025 – 4482.829
Fresh Demand Base
Probable Accumulation Region
H1 Support Zone
4432.137 – 4417.953
Old Buyers Area
Higher Probability Support Boundary
Session Strategy
Although the downside pressure may continue on h1 time frame. Meanwhile the downside continuation would intact below the recent high at 4589.699 on h1 time frame. However, a breakout above 4589.699 on h1 time frame, may shape the bullish bias and markout the fresh support at 4515.451 – 4480.577 on h1 time frame. In addition, breakdown below 4473.188 on m15 time frame. As a result price could define the buying interest and could build the fresh supply at 4486.550 – 4489.745 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