Gold Showing Exhaustion Below Trendline – Selling Momentum Build
Gold is trading below the rising trendline structure following the impact of the Trump–Xi summit, with price showing signs of exhaustion near the 4600 resistance level. A stronger dollar and rising yields continue to weigh on market momentum, limiting bullish recovery attempts.
The market structure remains weak as sellers continue defending key resistance zones.
**Technical Perspective:**
Gold is forming lower highs below the trendline, signaling fading bullish momentum on lower timeframes. Continued rejection near 4600 may trigger a liquidity sweep beneath support levels before the next directional move develops.
**SMC & Fibonacci Insight:**
Sell-side liquidity remains positioned below the 4470 support zone. If bearish pressure continues, gold may rotate toward the 4400 area, which aligns closely with the 61.8% Fibonacci retracement level and a potential demand zone.
**Key Levels:**
Resistance: 4600
Support: 4470
Target: 4400 — 61.8% Fibonacci level
**Scenarios:**
• **Bearish:** Continued weakness below resistance may build downside momentum toward 4400
• **Bullish:** A breakout above the trendline may shift structure back toward bullish continuation
What’s your view—trend continuation lower or reversal from Fibonacci support?
source https://www.tradingview.com/chart/GOLD/hsOhFsq2-Gold-Showing-Exhaustion-Below-Trendline-Selling-Momentum-Build/
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