By analyzing the #Gold chart on the 4H timeframe, we can see that price followed our bullish scenario and rallied toward $4399. However, after reaching the important supply zone, sellers stepped in and pushed Gold back toward $4368.
In my view, $4360 is now the key level. If Gold manages to close a 4H candle above this level within the next four hours, I expect another bullish attempt toward $4380, $4400, $4425, $4440 and potentially $4460.
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The nearest supply zones are around $4380 – $4400, followed by $4424 – $4463. On the downside, the important demand zones remain $4330 – $4350, followed by $4310 – $4325 and the deeper $4224 – $4285 area.
For now, my short-term bias remains bullish as long as $4360 holds. A decisive break below this level could trigger another correction toward the lower demand zones.
In my view, $4360 is now the key level. If Gold manages to close a 4H candle above this level within the next four hours, I expect another bullish attempt toward $4380, $4400, $4425, $4440 and potentially $4460.
If you've been following these Gold updates and find them useful, give this idea a Boost to support my work! 🙌
The nearest supply zones are around $4380 – $4400, followed by $4424 – $4463. On the downside, the important demand zones remain $4330 – $4350, followed by $4310 – $4325 and the deeper $4224 – $4285 area.
For now, my short-term bias remains bullish as long as $4360 holds. A decisive break below this level could trigger another correction toward the lower demand zones.
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