Key Gold Levels
We’re observing a semi-rising wedge formation on the 4-hour timeframe, with the market potentially moving up to the 2530 level. This will help us determine whether the bullish trend will continue or if we might see a rejection. Should the market reject at 2530 and drop below 2510, we could see a significant downward push. Conversely, if Gold rejects from the 2510-2515 range before reaching 2530, it may decline to the 2480-2470 range before resuming its bullish trend. As always, keep your stop-loss tight, set your alerts, and remain patient. Opportunities will arise, so don't worry!
Note
Gold has broken through the 2510-2515. Next level to pay attention too will be around the 2520 level. If this breaks with a 1 HR candle close, we will retest 2530 most likely. A rejection again from that 2530 area will inevitably lead to selling pressure to close out the month. If it is broken, it is best for a 4 HR close above 2530 to have a higher percentage of continuing trend to the psychological level of 2550.
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