Gold is currently trading near 5142 after a sharp liquidity sweep above the 5300 highs, followed by an aggressive sell-off from the 5265–5300 supply zone. This move suggests institutional distribution, where buy-side liquidity was taken before price reversed lower.
The strong bearish displacement also triggered a Change of Character (ChoCH), signaling a short-term shift in market momentum.
Price attempted a retracement into the 5147–5165 Fair Value Gap (FVG) but failed to sustain higher, indicating that sellers are defending the imbalance area.
At the moment, Gold is reacting near 5090–5060 support, while the ascending trendline continues to act as dynamic support. The next move will likely depend on whether this structure holds or breaks.
Trendline Support
Ascending trendline is currently preventing deeper downside.
Key Levels
Major Supply
5265 – 5300
Intraday Resistance
5175 – 5200 (FVG + Fibonacci confluence)
Current Support
5090 – 5060
Major Demand
5050 – 4990
Trading Scenarios
Bearish Scenario
Failure to reclaim 5175–5200 may push price toward 5050–4990 demand.
Bullish Scenario
If buyers defend 5090–5060, a corrective move toward 5175–5200 could occur.
Bias
Short-term bearish while below 5200.
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