Tag: daily trade

By Mehrullah Baloch | MJ Forex Academy Gold is currently showing weak structural support at the H4 level of 3167, which also aligns with the 60% Fibonacci Golden Zone on the daily chart. A Climactic Action Bar (CAB) is forming, though not yet confirmed. On the lower timeframes, the 15M RSI divergence points to short-term weakness, indicating a possible accumulation phase, supported by rising volume. However, from a fundamental standpoint, sentiment remains bearish. The global "safe haven" demand for gold has diminished as macroeconomic indicators improve, reducing appetite for defensive assets. Short-term retracement could push prices toward 3230, and possibly 3325, to fill previous market imbalances. Yet caution is advised the broader trend is still bearish, with institutions cautious mid-term and retail traders leaning toward a downside bias. Key Takeaways: Support: 3167 Resistance: 3230 Imbalance Zones 3325 Overall Bias: Bearish, with potential for minor retracement Institutional Sentiment: Cautious mid-term, optimistic long-term Retail Sentiment: Bearish Stay sharp and manage risk accordingly.

Tag: daily trade

Gold Market Analysis – 15 May 2025

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