📉 Gold: Another Rejection at the Highs — Bears Still Hold the Edge
Yesterday's gold price action was a perfect example of how volatile this market has become.
During the Asian session, gold dropped to a new intraday low before gradually recovering into the European session. Once the U.S. session opened, buyers stepped in aggressively, pushing the price to around 4115. However, the rally failed to hold, and strong selling pressure quickly drove gold back down, with the market closing lower.
What does this tell us?
From a technical perspective, every rebound continues to struggle beneath key resistance. The repeated rejection from higher levels suggests that sellers remain in control. Unless gold can break above and hold key resistance, the broader bearish structure remains intact.
On the fundamental side, traders continue to focus on Federal Reserve policy expectations, the strength of the U.S. dollar, and upcoming economic data. While headlines can trigger sharp intraday moves, they have not yet changed the broader market structure.
A trend doesn't reverse because of one strong rally or one headline. It reverses only when price confirms it.
For now, I remain bearish while gold trades below major resistance. My focus is on waiting for confirmation, managing risk carefully, and trading with the trend rather than chasing short-term volatility.
Patience creates opportunities. Discipline protects capital.
This reflects my personal market view and is for informational purposes only. It is not financial or investment advice.
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David(001)
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