Liquidity Hunted: The chart highlights a liquidity grab near the recent high (marked as hunted), where the price spiked above resistance before reversing sharply.
Downtrend Movement: Gold has shown strong bearish momentum, breaking below a rising trendline and key support levels. A continuation toward the gray demand zone around $2,585–$2,595 is likely.
Key Demand Zone: The gray highlighted area is the next potential support, where buyers may step in to halt the decline.
Scenarios: Scenario 1: If the price respects the demand zone, a short-term bullish rebound towards $2,620–$2,630 can occur. Scenario 2: Failure to hold the demand zone could push Gold further down toward the blue support area near $2,539–$2,535.
Conclusion: Gold is currently bearish, with a strong possibility of reaching the demand zone at $2,585–$2,595. Traders should monitor this level for signs of a reversal or continuation, with $2,539 as the next downside target if support fails.
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