Gold intraday outlook is currently bullish, as the market has already shown a strong upward move from the recent swing low around the 4550 zone. After this impulse, price is now in a healthy pullback phase, which is a normal retracement before the next potential move. In your chart, the key buying area is clearly marked between 4635 (0.5 Fibonacci level) and 4614 (0.618 level), which is a strong demand zone where buyers are expected to step in. If price reacts positively from this zone, we can expect continuation towards the previous highs, with targets around 4725 (day swing high) and further upside towards 4760 resistance. This setup is mainly a buy-on-dip opportunity, not a breakout trade, so patience is important to wait for price to reach the discount zone. However, if the market breaks and closes below the 4610 area, the bullish structure will weaken, and it’s better to avoid buying positions. Overall, the plan is simple: gold is bullish, wait for retracement, enter from support, and target the highs
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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.