Gold's Tipping Point: Brace for a Breakout!
Gold is currently retesting a recently broken trendline on the daily chart.
On the 4H time frame, we can see that the market is consolidating and trading within a horizontal range. The price is hovering around the key level of $2,332.38, which aligns with the weekly resistance level.
A bearish breakout of the support of the range at $2,318.00 will be our signal for a potential short trade. A 4H candle close below this level will confirm the breakout, with a bearish continuation expected to at least $2,300.00.
On the flip side, a bullish breakout above the resistance of the range near $2,334.75 may push the prices higher, targeting the next monthly resistance level around $2,368.74.
Stay alert for these critical levels and adjust your strategy based on real-time market conditions.
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Daily/4H time frames
On the 4H time frame, we can see that the market is consolidating and trading within a horizontal range. The price is hovering around the key level of $2,332.38, which aligns with the weekly resistance level.
A bearish breakout of the support of the range at $2,318.00 will be our signal for a potential short trade. A 4H candle close below this level will confirm the breakout, with a bearish continuation expected to at least $2,300.00.
On the flip side, a bullish breakout above the resistance of the range near $2,334.75 may push the prices higher, targeting the next monthly resistance level around $2,368.74.
Stay alert for these critical levels and adjust your strategy based on real-time market conditions.
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Daily/4H time frames
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.