Posted by Gold started the session under selling pressure after rejecting the higher resistance zone near 4745–4748. The market initially looked bullish during the impulsive push higher, but buyers failed to sustain momentum above the previous intraday highs. That rejection immediately attracted aggressive selling and pushed price back into the middle of the range.
One thing that stands out clearly on this chart is how price is respecting both sides of liquidity. The sweep near the lows around 4690–4696 earlier in the session acted as a classic liquidity grab before buyers stepped back in. Since then, price has been moving inside a broader consolidation structure rather than trending cleanly in one direction.
The recent rally into the resistance zone created a temporary break of structure, but there was no continuation afterward. Instead, sellers absorbed the buying pressure and forced a sharp rejection candle from the highs. That reaction tells us smart money is still defending the premium area aggressively.
At the moment, gold appears slightly bearish while trading below 4734. As long as price remains under this level, the probability favors another move toward lower intraday support levels. Immediate downside targets sit near 4712 followed by 4700. If bearish momentum accelerates, the market could revisit the deeper liquidity pocket around 4690–4696 again.
However, traders should also remain cautious about blindly chasing sells at current levels. The market is still technically ranging, and support around 4704–4708 could attract short-term buyers if price reacts positively there. A bullish rejection from that zone may trigger a temporary rebound back toward the mid-range area.
Overall, the chart currently reflects a classic range-bound environment where liquidity sweeps and false breakouts are dominating price action. Until gold either breaks decisively above 4748 or below 4690, traders may find better opportunities by reacting at the edges of the range rather than trading the middle.
Trading Outlook
- Bearish below: 4734
- Sell targets: 4712 → 4700 → 4688
- Bullish reaction zone: 4704–4708
- Major resistance: 4743–4748
- Major support/liquidity: 4690–4696
For now, sellers still appear to have a slight short-term advantage unless buyers can reclaim the resistance zone with strong momentum.