The Gold Epic: Between All-Time Highs and Uncharted Lands

Looking at the chart, it feels like stepping back into the era of the Wild West, when the gold rush pushed prospectors to risk everything in pursuit of unexplored riches. Today, instead of searching for nuggets in rivers, our goal is to analyze charts to anticipate the market's next move, carefully monitoring support, resistance levels, and signals provided by technical indicators.

1H: Hourly Timeframe – The Sequence of Highs
In the hourly chart, we can clearly see gold's impressive movement starting on Thursday, January 30, 2025, with a continuous succession of new ATHs (All-Time Highs). This culminated on Friday, January 31, with a peak at 2817.17 USD, a significant milestone for traders. After this absolute high, the price entered a retracement phase, closing at 2798.27 USD, returning to the 2700 USD zone—a price range that has often served as a transit area.

Key Levels in 1H: For Intraday Scalping
Resistances:
2817.17 USD: The latest all-time high, a "fortress" to conquer for new highs.
2812.56 USD and 2808.96 USD: Intermediate levels of previous highs.
Supports:
2794.59 USD: The POC (Point of Control) with significant volume accumulation.
2790.09 USD: The last frontier to the downside before a potential return to the 2700 USD zone.
Indicators Overview:

RSI: Displays a bearish divergence ("Bear"), indicating weakening upward momentum.
MACD: In a convergence phase, signaling a possible bearish crossover.
Stochastic: Shows a drop from the overbought zone, confirming the risk of a prolonged retracement.

Daily: The Medium-Term Bullish Trend
Switching to the daily timeframe, the chart shows a clear bullish trend, neatly enclosed in a well-defined ascending channel. The structure of the movement is evident here: a series of rising highs culminating in the 2800–2817 USD range, which is critical for further upward progress.

Key Levels in Daily:
Resistances:
2817.17 USD: A breakout here is necessary to pave the way for new highs toward 2850 USD.
2808–2812 USD: A significant pressure zone.
Supports:
2700–2745 USD: A transit and consolidation zone.
2600 USD: A crucial area that served as a base in previous bullish movements.
Indicators on the Daily Timeframe:

ATR (Average True Range): Increasing volatility suggests the market is ready for significant moves.
Volumes: Show a decline during the retracement, implying that the pullback might be temporary.

Weekly: The Bigger Picture and Historical Levels
On the weekly timeframe, gold is within a broad Ascending Broadening Wedge, a pattern that highlights expanding volatility. Here, we can identify long-term levels that have been guiding the current trend.

Key Levels in Weekly:
Resistances:
The range between 2800 and 2817 USD, where the market is testing new highs.
Above these levels, the next target could be 2850 USD.
Supports:
2600 USD: A significant historical base, representing a critical support level in case of extended retracements.
2550–2560 USD: A long-term accumulation level that supported previous rallies.

A Note on Gann and Cyclical Analysis
Gann and cyclical analysis enthusiasts understand that markets often follow natural rhythms and temporal cycles that frequently align with price levels and turning points. Although this analysis doesn't focus on these theories, it's noteworthy how time cycles and price movements identified through more traditional methods often lead to similar conclusions. Key levels and price patterns remain the primary reference points, whether one follows Gann or focuses on price action.

Final Thoughts: What to Expect Next?
Looking across the three timeframes, several possible scenarios emerge:

Bullish Scenario:
A breakout above 2817.17 USD, supported by increasing volumes, could push the price toward new highs at 2850 USD or beyond, confirming the strength of the bullish trend.
Bearish Scenario:
A drop below the key support at 2790 USD (1H) and subsequently below 2700 USD (Daily) could trigger a retracement toward 2600 USD, a historically crucial support level.
Sideways Scenario:
The price could consolidate within the 2700–2800 USD range, with the market awaiting further catalysts before making a decisive move.

Conclusion
Like gold prospectors in the Wild West, we must prepare to face the unknown with a solid strategy. It's not so much about predicting where gold will go but about understanding how to position ourselves. Monitoring key levels, analyzing volumes, and following price action are the compasses that guide us in this modern-day gold rush. These "uncharted lands" may hold new opportunities, but we must be ready to act, whether it's to capitalize on new highs or to protect ourselves from retracements.