Gold Spot (XAU/USD) Potential Reversal from Premium Zone
Analysis Summary
Premium Zone and Strong High: The price is approaching a premium zone between 2,745 and 2,750, where selling pressure could emerge. The strong high in this area marks a key resistance level that may limit further upside.
Change of Character (CHoCH): A CHoCH near the current price indicates a recent bullish shift in short-term momentum. However, if the price meets resistance in the premium zone, this shift may be short-lived, leading to a potential reversal.
Discount Zone and Weak Low: Below the current price, a discount zone around 2,726–2,730 could act as support if the price reverses. The weak low near 2,726 represents a potential target for bearish continuation, should selling pressure resume.
Potential Scenarios:
Bearish Reversal from Premium Zone: If the price fails to break above the premium zone (2,745–2,750) and meets resistance, a bearish reversal is likely. This could drive the price down toward the discount zone and weak low around 2,726.
Continued Bullish Momentum: If buyers manage to push the price above the premium zone and sustain it, this could signal a bullish breakout, potentially invalidating the bearish setup and leading to higher targets.
Conclusion
Gold is approaching a significant resistance level within the premium zone, where a bearish reversal could take place. Traders may look for selling opportunities around 2,745–2,750, targeting the discount zone at 2,726 if bearish momentum returns. Monitoring price action in the premium zone will be key to confirming the next move.
Premium Zone and Strong High: The price is approaching a premium zone between 2,745 and 2,750, where selling pressure could emerge. The strong high in this area marks a key resistance level that may limit further upside.
Change of Character (CHoCH): A CHoCH near the current price indicates a recent bullish shift in short-term momentum. However, if the price meets resistance in the premium zone, this shift may be short-lived, leading to a potential reversal.
Discount Zone and Weak Low: Below the current price, a discount zone around 2,726–2,730 could act as support if the price reverses. The weak low near 2,726 represents a potential target for bearish continuation, should selling pressure resume.
Potential Scenarios:
Bearish Reversal from Premium Zone: If the price fails to break above the premium zone (2,745–2,750) and meets resistance, a bearish reversal is likely. This could drive the price down toward the discount zone and weak low around 2,726.
Continued Bullish Momentum: If buyers manage to push the price above the premium zone and sustain it, this could signal a bullish breakout, potentially invalidating the bearish setup and leading to higher targets.
Conclusion
Gold is approaching a significant resistance level within the premium zone, where a bearish reversal could take place. Traders may look for selling opportunities around 2,745–2,750, targeting the discount zone at 2,726 if bearish momentum returns. Monitoring price action in the premium zone will be key to confirming the next move.
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