Indices and commodities
Active
GOLD
Long
Gold Breakout Toward $4,160
Rationale
TradingView idea: XAU/USD Rejected at Resistance, Bearish Pressure Builds for OANDA:XAUUSD by melikatrader94
TradingView symbol: XAUUSD
Hi!
Gold is trading around $4,052.85 on the 1h chart after failing to sustain its recent bullish momentum.
The market initially confirmed a bullish shift by breaking above the descending trendline, triggering a strong upside move. This breakout attracted buyers and pushed price toward the major resistance zone between $4,160 and $4,180.
However, despite the bullish breakout, buyers failed to overcome this key resistance area. The rejection from this supply zone indicates that selling …
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