IS #GOLD READY TO CLIMB HIGHER?(TARGETS AND SUPPORTS)
Summary of today's analysis on #Gold 4-Hour Time-Frame ⏰
As long as we remain above the monthly support (2597.415), #Gold shows a tendency to rise 📈.
There are two key support zones from which #Gold can form a bottom and start a rally:
1️⃣ First Zone: 2624.782-2634.690 (Gold has already reacted positively to this zone)
2️⃣ Second Zone: 2597.415-2602.147
Condition for Growth from the First Support Zone (Growth from here): Due to the recent gradual pullback towards the first support zone (the previous bottom), if #Gold breaks the weekly resistance (2650.627) on the 4-hour time-frame, it will form a bottom here and start its move toward the specified targets 🏹.
In case of a pullback from the weekly resistance (2650.627), which #Gold has currently hit, (a pullback can be expected based on a reversal pattern like a double-top formation on this resistance), the second support zone 2597.415-2602.147 could act as the base for forming a bottom and starting the rise.
🎯 Next Growth Targets:
1️⃣ Target 1: 2676.473
2️⃣ Target 2: 2699.107
3️⃣ Target 3: 2722.915
4️⃣ Target 4: 2811.140
❌ Stop-loss for the Growth Scenario: Breaking the support at 2597.415 on the daily time-frame. In this case, the trend would shift from bullish to bearish.
As long as we remain above the monthly support (2597.415), #Gold shows a tendency to rise 📈.
There are two key support zones from which #Gold can form a bottom and start a rally:
1️⃣ First Zone: 2624.782-2634.690 (Gold has already reacted positively to this zone)
2️⃣ Second Zone: 2597.415-2602.147
Condition for Growth from the First Support Zone (Growth from here): Due to the recent gradual pullback towards the first support zone (the previous bottom), if #Gold breaks the weekly resistance (2650.627) on the 4-hour time-frame, it will form a bottom here and start its move toward the specified targets 🏹.
In case of a pullback from the weekly resistance (2650.627), which #Gold has currently hit, (a pullback can be expected based on a reversal pattern like a double-top formation on this resistance), the second support zone 2597.415-2602.147 could act as the base for forming a bottom and starting the rise.
🎯 Next Growth Targets:
1️⃣ Target 1: 2676.473
2️⃣ Target 2: 2699.107
3️⃣ Target 3: 2722.915
4️⃣ Target 4: 2811.140
❌ Stop-loss for the Growth Scenario: Breaking the support at 2597.415 on the daily time-frame. In this case, the trend would shift from bullish to bearish.
ملاحظة
"In the 15-minute time-frame, the direction of the head and shoulders pattern' channel breakout can determine the next move.
📉 A downward breakout of this channel could lead to a drop toward the second support zone, while
📈 an upward breakout would signal the start of growth from this level.
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.