Gold (XAUUSD) Analysis – 4-Hour Timeframe
Currently, the price is moving in an upward trend and approaching a key resistance area. Recent volatility suggests that buyers have shown enough strength to break through previous resistance zones and are now attempting to overcome the next significant barrier ahead.
🔴 Bullish Scenario:
If the price manages to break above the current resistance and hold above it, we can expect a continuation of the upward move toward higher zones. In this case, the bullish wave could extend toward the next resistance levels (marked in blue).
🔴 Bearish Scenario:
If the price reacts negatively to the current resistance area and fails to break above it, a corrective decline may follow. The nearest support zone below could play a crucial role in maintaining the bullish structure. However, if this support is also broken, the path could open for a deeper pullback toward lower support levels.
Currently, the price is moving in an upward trend and approaching a key resistance area. Recent volatility suggests that buyers have shown enough strength to break through previous resistance zones and are now attempting to overcome the next significant barrier ahead.
🔴 Bullish Scenario:
If the price manages to break above the current resistance and hold above it, we can expect a continuation of the upward move toward higher zones. In this case, the bullish wave could extend toward the next resistance levels (marked in blue).
🔴 Bearish Scenario:
If the price reacts negatively to the current resistance area and fails to break above it, a corrective decline may follow. The nearest support zone below could play a crucial role in maintaining the bullish structure. However, if this support is also broken, the path could open for a deeper pullback toward lower support levels.
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.