XAUUSD – 1H ANALYSIS
MARKET OVERVIEW:
Gold has swept the previous equal highs around 4600 twice and immediately rejected from the major supply zone. This suggests liquidity above the highs has already been taken and sellers are defending the 4600–4620 region strongly. In H1 time frame double top pattern formed and indicating bearishness in gold price.
STRUCTURE ANALYSIS:
Higher timeframe still remains bearish below 4620
Current move is a bullish retracement inside a broader downtrend
Recent rejection candle from 4600 indicates a possible lower high formation
👉 Bias: Short-term bearish toward lower FVG and support zones
KEY LEVELS:
Major resistance / supply: 4600 – 4620
Immediate resistance: 4580 – 4590
Current price: ~4578
First support: 4538 – 4520
Main demand zone: 4460 – 4440
Final downside support: 4405 – 4395
SMART MONEY VIEW:
Institutions likely used the move above 4600 to grab buy-side liquidity. After the sweep, the rejection suggests price may now move lower into the imbalance zone around 4520–4460 before any stronger bullish continuation.
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