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 may maintain the last week’s bearish bias on h1 time frame. Meanwhile the Gold Price Forecast defending the last high at 4749.510 on h1 time frame. However the Gold Price Forecast identified the fresh resistance at 4747.606 on h1 time frame. In addition, the m15 continues under the bearish momentum, as the Gold Price Forecast remains below the high 4705.412. As a result price established the fresh resistance at 4699.067 on m15 time frame.
Resistance Zones
M15 Resistance Zone
4699.067 – 4705.412
Fresh Supply Zone
Short Term Resistance Area
H1 Resistance Zone
4747.606 – 4749.510
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
4556.358 – 4553.555
Pending Demand Zone
Short Term Support Base
H1 Support Zone
4510.643 – 4501.270
Pending Demand Zone
Higher time Frame Support Region
Session Strategy
Although the price may indicate the bearish momentum would remain intact on h1 time frame, until the price trades under recent high at 4749.510 on h1 time frame. Meanwhile, a secured close above 4749.510 on h1 time frame. As a result price may change the structure to the bullish side and confirm the fresh support at 4686.132 – 4682.463 on h1 time frame. In addition, acceptance above 4705.717 on m15 time frame, as the price could secure the bullish bias and form the fresh support at 4683.956 – 4670.899 on m15 time frame.
Nyc Session Outlook
However the price continues under the bearish structure on h1 time frame. Therefore the price trades below prior high at 4749.510 on h1 time frame. In addition, the m15 time frame reflects the sellers strength, while trades under the recent high at 4705.717 on m15 time frame. Meanwhile the pending resistance zones would remain intact on h1 and m15 time frame, as the price hasn’t setup any fresh resistance zone on both the time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
4699.067 – 4705.412
Pending Supply Zone
Short Term Resistance Area
H1 Resistance Zone
4747.606 – 4749.510
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
4556.358 – 4553.555
Pending Demand Zone
Short Term Support Base
H1 Support Zone
4510.643 – 4501.270
Pending Demand Zone
Higher time Frame Support Region
Session Strategy
Although the price indicates the bearish bias on h1 time frame, until the price trades under recent high at 4749.510 on h1 time frame. Meanwhile, a secured close above 4749.510 on h1 time frame. As a result price may change the structure to the bullish side and confirm the fresh support at 4686.132 – 4682.463 on h1 time frame. In addition, acceptance above 4705.717 on m15 time frame, as the price could secure the bullish bias and form the fresh support at 4683.956 – 4670.899 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