Mobarok Hossain
April 25, 2024
Overview Spot Gold (XAU/USD) has staged a strong short-term rally following a liquidity sweep at lower demand levels. Price action is currently pushing into a major supply confluence marked by the H1 Market Structure Shift (MSS) zone and a descending trendline, presenting a dual-scenario technical outline.
First Supply Zone: 4,150.00 – 4,155.00
Last Sell Zone (H1 MSS Supply): 4,165.00 – 4,170.00
Upper Expansion Objectives: 4,217.00 (H1 Double Top) & 4,225.00 (H4 Double Top Zone)
Lower Demand Objective (DB Zone): 4,067.00
Bullish Continuation (Breakout & Retest):
Should buyers push price through the descending trendline and secure a candle close above 4,170.00, market structure shifts back to a bullish bias. A successful retest of the broken level targets the structural liquidity pooled around 4,217.00 and 4,225.00.
Bearish Rejection (Trendline Respect):
Failure to breach 4,170.00 accompanied by selling volume (VSA confirmation) signals an institutional lower-high formation. This scenario favors a leg lower toward the major Double Bottom support floor at 4,067.00.
Patience is key at current levels. Traders should await clear lower-timeframe confirmation around the 4,165 – 4,170 pivot before executing positions.
Disclaimer: This analysis is provided strictly for educational purposes and does not constitute financial advice.
