This week’s price action on Gold (XAU/USD) continues to respect the broader bearish bias, with market structure suggesting further downside potential into the end of the week.
On the higher timeframes, momentum remains in favor of sellers as each rally is being rejected around key supply zones. The weekly flow shows lower highs forming, a clear indication that institutional players remain in control of the downside movement.
Outlook:
As long as Gold remains below the 3342 resistance area, continuation to the downside remains the higher-probability scenario. Swing-scalpers who align with the weekly bearish momentum can use intraday rallies as opportunities to position for further downside into the end of the week.
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