Gold prices are currently trading within a consolidation range on the 4-hour chart, fluctuating between support at approximately $2,893 and resistance around $2,923. This range-bound movement indicates that traders are awaiting a decisive breakout to establish the next significant price direction.
We anticipate that the price will rise to test the 2,923 level or move higher toward 2,935 before reversing downward. From there, the price is expected to decline, breaking below the 2,893 support level and potentially extending the drop toward 2,858.
Bearish target: 2893, 2879, 2858
Bullish target: 2923, 2935, 2954
We anticipate that the price will rise to test the 2,923 level or move higher toward 2,935 before reversing downward. From there, the price is expected to decline, breaking below the 2,893 support level and potentially extending the drop toward 2,858.
Bearish target: 2893, 2879, 2858
Bullish target: 2923, 2935, 2954
Trade active
Gold broke the support level at 2893 and then moved toward 2886 before reversing. The price is expected to continue attempting to break the support for further decline.
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The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.