Using a 2-day time frame to smooth out volatility, gold price action is consolidating below the 4600–4680 resistance zone, which acts as the key divider between continued bearish structure and a potential short-term bullish shift.
Bullish Scenario:
A close above the 4680 level opens the door for gains towards 4800 and 4980, aligning with the 0.618 and 0.786 Fibonacci retracement levels of the downtrend from the March 10 high at 5240 to the March 20 low at 4080. A sustained move above 4980 and 5250 would realign the longer-term bullish trend, exposing 5600 and 6000 as next upside targets.
Bearish Scenario:
A close below the 4300 and 4080 support levels would extend downside risks towards 3860, 3620, and 3140, respectively. These levels align with key Fibonacci retracement zones of the broader uptrend from the 2022 lows to the 2026 highs, presenting potential long-term dip-buying areas.
• 4,080: 0.382 Fibonacci ratio, already established as a support and dip-buying zone
• 3860: 0.44 Fibonacci ratio, potential short-term rebound level
• 3620: 0.5 Fibonacci ratio, potential medium-term rebound level
• 3150: 0.618 Fibonacci ratio, the golden ratio with a higher probability of a stronger rebound
- Razan Hilal
Bullish Scenario:
A close above the 4680 level opens the door for gains towards 4800 and 4980, aligning with the 0.618 and 0.786 Fibonacci retracement levels of the downtrend from the March 10 high at 5240 to the March 20 low at 4080. A sustained move above 4980 and 5250 would realign the longer-term bullish trend, exposing 5600 and 6000 as next upside targets.
Bearish Scenario:
A close below the 4300 and 4080 support levels would extend downside risks towards 3860, 3620, and 3140, respectively. These levels align with key Fibonacci retracement zones of the broader uptrend from the 2022 lows to the 2026 highs, presenting potential long-term dip-buying areas.
• 4,080: 0.382 Fibonacci ratio, already established as a support and dip-buying zone
• 3860: 0.44 Fibonacci ratio, potential short-term rebound level
• 3620: 0.5 Fibonacci ratio, potential medium-term rebound level
• 3150: 0.618 Fibonacci ratio, the golden ratio with a higher probability of a stronger rebound
- Razan Hilal
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.