Weekend Greetings!
Over the past week, gold has been consolidating within the 4160–4000 range. Technically, this range suggests a short-term bottoming phase. However, given that prices recently reached new highs and have since formed a double-top pattern, it’s still too early to confirm a bottom. In the upcoming sessions, traders should remain cautious, avoid chasing highs, and be alert for potential bull traps or a fifth-wave decline, as mentioned last week.
On the 4H chart, higher lows are being established, and Friday’s close was above both the MA5 and MA20, with the MACD maintaining a bullish configuration. The MA60 and MA30 are currently positioned around 4180 and 4163, respectively, serving as key resistance zones. If gold can hold above these levels, there’s a good chance it will approach or even reclaim the 4300 level.
On the daily chart, gold remains supported by the MA20, with long lower wicks indicating active bullish participation, which favors further upside. However, the MA5 and MA10, located around 4154 and 4188, still act as short-term resistance. For a stronger bullish confirmation, the price needs to stabilize above 4160, ideally holding firm above 4180.
On the 30M/1H charts, moving averages are closely aligned, showing short-term consolidation. Notably, the last three candles on the 30M chart form a Morning Star pattern, a typical bullish signal. If this formation remains intact after the market opens, prices are likely to move higher.
From a fundamental perspective, no bearish news emerged over the weekend. Unless unexpected developments occur before the market opens, the technical outlook favors an upward move during Monday’s session.
Over the past week, gold has been consolidating within the 4160–4000 range. Technically, this range suggests a short-term bottoming phase. However, given that prices recently reached new highs and have since formed a double-top pattern, it’s still too early to confirm a bottom. In the upcoming sessions, traders should remain cautious, avoid chasing highs, and be alert for potential bull traps or a fifth-wave decline, as mentioned last week.
On the 4H chart, higher lows are being established, and Friday’s close was above both the MA5 and MA20, with the MACD maintaining a bullish configuration. The MA60 and MA30 are currently positioned around 4180 and 4163, respectively, serving as key resistance zones. If gold can hold above these levels, there’s a good chance it will approach or even reclaim the 4300 level.
On the daily chart, gold remains supported by the MA20, with long lower wicks indicating active bullish participation, which favors further upside. However, the MA5 and MA10, located around 4154 and 4188, still act as short-term resistance. For a stronger bullish confirmation, the price needs to stabilize above 4160, ideally holding firm above 4180.
On the 30M/1H charts, moving averages are closely aligned, showing short-term consolidation. Notably, the last three candles on the 30M chart form a Morning Star pattern, a typical bullish signal. If this formation remains intact after the market opens, prices are likely to move higher.
From a fundamental perspective, no bearish news emerged over the weekend. Unless unexpected developments occur before the market opens, the technical outlook favors an upward move during Monday’s session.
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I’ve created a channel where I’ll be posting market analysis and trading signals.
Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
t.me/+h6RM5RdP6X9hNmI8
Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
t.me/+h6RM5RdP6X9hNmI8
Pubblicazioni correlate
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.