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Gold prices suddenly returned from the 4100 area after experiencing a strong decline. Not due to economic data, not due to confirmed trend changes…but primarily driven by market sentiment in response to Trump’s tweets and statements.
In a short period of time, feelings changed. Doubt slowly turned into expectation. One question began to come up frequently: “Has a bottom been formed?”
But markets don’t move based on sentiment. It moves according to the structure.
🌍Overall background
Geopolitical tensions show signs of temporary easing (negotiations, calls for ceasefires). However, significant risks – especially around the Hormuz region – remain.
At the same time, there are no major economic data released today. This means: 👉 Price action is currently driven primarily by technicals and market sentiment.
📉 Market structure
If we zoom in and ignore short-range noise:
The main trend remains: Bearish Current trend: Bounce within short-term uptrend line channel
A strong rally could make the opposite appear true. But until the structure is destroyed… it’s still just a patch.
📊 Where are we now?
Gold is currently traded in a very wide range:
Maximum value: 4740 Minimum value: 4220
Within this range, price action is primarily consolidation.
On smaller time frames (daily), prices interact with each other:
4350–4370 ↔ 4640
This is a key area to monitor when making short-term decisions.
🧩 Main monitoring level
Support: 4380, 4400, 4300, 4320, 4220, 4250
Resistor: 4600, 4615, 4640, 4660, 4693, 4730
These are not just levels – they represent changes in market psychology.
⚠️When does the scene change? Close above 4740 → Structural change → Sell scenario invalid Close below 4220 → Confirmation of continuation of downtrend → Targets: 4000 – 3950 – 3900
🎯 Trading Plan
In the current context, the goal is not to predict the bottom. But know where you are in the trend.
Main Trend: Down Current Trend: Correction
➡️So: look for opportunities to sell on highs, rather than chasing buys.
🧠 One last thought
The market will often create a rally strong enough to make you believe a bottom has been reached. But most of the time…trends just continue.
The bottom is not confirmed by feel. Rather, it is confirmed through structure.
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