GOLD: The Market is Currently in a “High-range Consolidation"
Hello everyone! Today i want to share some macro analysis with you!
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$Gold - main 2608(GCmain)$Gold: The market is currently in a “high-range consolidation and topping” phase following Monday’s gap-up opening. Although bulls hold the advantage in the short term, pressure for a local pullback has already begun to emerge.
After the early morning open, bulls pushed prices up to 4116.15 but failed to hold above 4100, subsequently facing significant selling pressure from profit-taking. Currently, the H1 chart has closed with two consecutive bearish candles (with long upper shadows), indicating very strong resistance in the 4110–4116 range and a weakening of short-term bullish momentum.
A dense cluster of short-term overlapping support levels has now formed below the current price.
The primary strategy is to “short on the gap fill” and “go long on the downside after the gap is filled”!
Short-term Strategy: Sell: 4095–4100 TP: 4065 SL: 4115
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