Gold Trading Analysis Gold – 4H Timeframe)
Gold – 4H Timeframe)
This chart presents a detailed technical analysis of gold's recent price movement. The highlighted supply zone around the $2,680 level indicates a strong resistance area, where sellers have consistently dominated.
Following the recent upward trend, the price appears to be forming a potential lower high, signaling a bearish correction may be on the horizon. Based on this analysis, we foresee two significant take-profit levels:
1. Take Profit at $2,610 – A critical support level aligned with short-term price action.
2. Take Profit at $2,584 – A deeper support zone that aligns with the anticipated continuation of the bearish trend.
Our forecast is supported by trendline analysis and the price's rejection from the resistance zone. Traders should watch for price action confirmations and consider risk management strategies
This chart presents a detailed technical analysis of gold's recent price movement. The highlighted supply zone around the $2,680 level indicates a strong resistance area, where sellers have consistently dominated.
Following the recent upward trend, the price appears to be forming a potential lower high, signaling a bearish correction may be on the horizon. Based on this analysis, we foresee two significant take-profit levels:
1. Take Profit at $2,610 – A critical support level aligned with short-term price action.
2. Take Profit at $2,584 – A deeper support zone that aligns with the anticipated continuation of the bearish trend.
Our forecast is supported by trendline analysis and the price's rejection from the resistance zone. Traders should watch for price action confirmations and consider risk management strategies
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