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 continue reflects the bearish continuation on h1 time frame. However the Gold Price Forecast capped below the recent high at 4773.710 on h1 time frame. Meanwhile the sellers formed the fresh resistance zone at 4682.173 on h1. On the other hand, the m15 structure remains respected towards the h1 bearish bias. Therefore the Gold Price Forecast positioned below the lastest supply area at 4621.958 on m15. As a result Gold Price Forecast secured the fresh resistance at 4620.325 on m15. Moreover, a finish below 4556.758 on m15. Meanwhile the Gold Price Forecast may open the door for further downside and secure the fresh resistance at 4575.238 – 4580.673 on m15 time frame
Resistance Zones
M15 Resistance Zone
4620.325 – 4621.958
Recent Supply Zone
Anticipated Sell Reaction Area
H1 Resistance Zone
4682.173 – 4686.123
Fresh Distribution Zone
Expected Selling Area
Support Zones
M15 Support Zone
4543.714 – 4540.181
Prior Accumulation Area
Confirmed Support Base
H1 Support Zone
4510.643 – 4501.270
Previous Demand Area
Anticipated Support Reaction Region
Session Strategy
However the price may stay with the downside structure on h1 time frame. Therefore the sellers remains protective below the latest high at 4773.710 on h1. Meanwhile acceptance above 4773.710 on h1 time frame. As a result price could confirm the upside continuation and create the fresh accumulation zone at 4656.223 – 4638.559 on h1 time frame. However, a breakout above 4621.958 on m15 time frame. Meanwhile the price may initiate the bullish continuation and markout the fresh support at 4612.741 – 4607.850 on m15 time frame.
Nyc Session Outlook
Although the price may remains with bearish bias on h1 time frame, as the price continues below the last high at 4773.710 on h1 time frame. Meanwhile the price continues to honour the previous resistance zone on h1 time frame. On the other hand, the m15 time continues to follow the bearish momentum and operates below the last high at 4621.958 on m15 time frame. Moreover, acceptance below 4532.436 on m15 time frame, as the price could continue the bearish bias and form the fresh resistance at 4566.256 – 4572.171 on m15 time frame
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
4620.325 – 4621.958
Pending Supply Zone
Anticipated Sell Reaction Area
H1 Resistance Zone
4682.173 – 4686.123
Previous Distribution Zone
Expected Selling Area
Support Zones
M15 Support Zone
4543.714 – 4540.181
Prior Accumulation Area
Confirmed Support Base
H1 Support Zone
4510.643 – 4501.270
Previous Demand Area
Anticipated Support Reaction Region
Session Strategy
However the structure may manage to trade with the downside momentum on h1 time frame. However the sellers remains aggressive below the last high at 4773.710 on h1. Therefore, a finish above 4773.710 on h1 time frame. Meanwhile price could establish the upside continuation and could create the fresh accumulation area at 4656.223 – 4638.559 on h1 time frame. In addition, a move above 4621.958 on m15 time frame. Meanwhile the price could confirm the bullish structure and could identify the fresh support at 4612.741 – 4607.850 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