Gold is currently trading around 4181, showing signs of bullish recovery on the 15-minute timeframe. The market is approaching a key resistance zone at 4187–4189 (R1), which will play an important role in determining the next directional movement. If buyers successfully break above this resistance and confirm a retest, we can expect further bullish momentum toward the next major resistance at 4212–4213 (R2). This level represents our primary upside target for the buying projection.
On the other hand, if gold faces rejection from the resistance zone, selling pressure could push the price back toward the immediate support at 4156–4158 (S1). A confirmed breakdown below this support, followed by a successful retest, could create a potential selling opportunity targeting the next major support at 4131–4132 (S2).
Overall Market Outlook: Gold is currently trading between two important technical zones. Our strategy is to wait for a confirmed breakout and retest rather than enter prematurely. A breakout above 4189 would strengthen the bullish outlook, while a breakdown below 4156 would support a bearish continuation. Until either confirmation occurs, price may continue consolidating within the current range. Proper risk management and confirmation are essential before taking any trading position.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.