This is the Micro Gold Futures - MGC1! 4-Hour chart on COMEX.
Chart Analysis:
1. Accumulation Done: Price was ranging in the "SUPPORT" zone around $3940 - $3960 for a while. Multiple tests and held.
2. Breakout + Channel: Then we got a strong bullish move up inside a red ascending channel. Clean structure.
3. At Resistance Now: Price hit "RESISTANCE" near the top of the channel and pulled back a bit.
4. Targets Marked: 3 "TARGET ZONES" drawn for a pullback/continuation play:
- TARGET ZONE 1: ∼$4320 - $4340
- TARGET ZONE 2: ∼$4280 - $4300
- TARGET ZONE 3: ∼$4240 - $4260
Key Levels to Watch:
- Resistance: Channel top ∼$4380 - $4400. Break above this and next leg starts
- Support Zones: Those 3 green boxes. If price pulls back, these are buy areas
- Major Support: $3940 - $3960 - The big yellow zone. Lose this and bias flips bearish
Bias: Bullish while holding above $4240. The plan looks like: Buy the dip into Target Zones, ride back up to new highs. A 4H close below $4240 likely means a deeper correction to $3960 support.
Educational only. Not financial advice. Gold is news driven - watch DXY and yields
Chart Analysis:
1. Accumulation Done: Price was ranging in the "SUPPORT" zone around $3940 - $3960 for a while. Multiple tests and held.
2. Breakout + Channel: Then we got a strong bullish move up inside a red ascending channel. Clean structure.
3. At Resistance Now: Price hit "RESISTANCE" near the top of the channel and pulled back a bit.
4. Targets Marked: 3 "TARGET ZONES" drawn for a pullback/continuation play:
- TARGET ZONE 1: ∼$4320 - $4340
- TARGET ZONE 2: ∼$4280 - $4300
- TARGET ZONE 3: ∼$4240 - $4260
Key Levels to Watch:
- Resistance: Channel top ∼$4380 - $4400. Break above this and next leg starts
- Support Zones: Those 3 green boxes. If price pulls back, these are buy areas
- Major Support: $3940 - $3960 - The big yellow zone. Lose this and bias flips bearish
Bias: Bullish while holding above $4240. The plan looks like: Buy the dip into Target Zones, ride back up to new highs. A 4H close below $4240 likely means a deeper correction to $3960 support.
Educational only. Not financial advice. Gold is news driven - watch DXY and yields
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t.me/+iZwBzq15KTM1Mzc0
join telegram for free signal on gold and different markets
t.me/+iZwBzq15KTM1Mzc0
join free telegram channel
join telegram for free signal on gold and different markets
t.me/+iZwBzq15KTM1Mzc0
join free telegram channel
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.