#XAU After its rapid initial rally, gold entered a broad, volatile range at elevated levels.
The chart structure is very clear: repeated attempts to push higher within the range met strong resistance, and prices ultimately failed to hold steady, breaking below the lower boundary of the purple zone with a medium-sized bearish candle. This means the major players have completed their “distribution at the highs,” and every bounce from here is an excellent opportunity for bears to add short positions.
Trading suggestion: Go short near 4075; targets: 4045–4020
The chart structure is very clear: repeated attempts to push higher within the range met strong resistance, and prices ultimately failed to hold steady, breaking below the lower boundary of the purple zone with a medium-sized bearish candle. This means the major players have completed their “distribution at the highs,” and every bounce from here is an excellent opportunity for bears to add short positions.
Trading suggestion: Go short near 4075; targets: 4045–4020
