By analyzing the #Gold chart on the 4H timeframe, we can see that price moved exactly as expected. Gold pushed into the $4440 to $4444 zone, faced selling pressure there, but only corrected to $4412 before strong demand stepped in again. Yesterday, gold rallied sharply and printed a new ATH at $4497.
After that move, price corrected again to $4430, but demand was so strong that the entire drop was recovered within four hours. Gold then broke above $4500 and is now trading around $4525, marking another new ATH.
At the moment, I do not see a clear reason for a heavy correction. From a mid-term view, I consider $4330 as a key price floor. The main demand zones to watch are $4330 to $4350, $4406 to $4419, and $4484 to $4500. As long as gold holds above $4500, my short-term upside targets are $4550, $4575, and $4600.
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After that move, price corrected again to $4430, but demand was so strong that the entire drop was recovered within four hours. Gold then broke above $4500 and is now trading around $4525, marking another new ATH.
At the moment, I do not see a clear reason for a heavy correction. From a mid-term view, I consider $4330 as a key price floor. The main demand zones to watch are $4330 to $4350, $4406 to $4419, and $4484 to $4500. As long as gold holds above $4500, my short-term upside targets are $4550, $4575, and $4600.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
تم فتح الصفقة
By analyzing the #Gold chart on the 4H timeframe, we can see that after rising to $4525, price corrected and dropped to $4471. After that drop, strong demand stepped in again and gold is now trading around $4488.If price can stabilize above $4479, I expect further upside in gold. Based on the main analysis, the next upside targets are $4499, $4525, $4550, and $4575. This analysis will be updated.
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