From the price level of 3368 and above, gold is expected to pull back at least until the Stochastic on the M30–H1 timeframes reaches oversold levels.
After that, a bullish continuation is likely, pushing the price up to around 3400.
This area will be a critical decision point — determining whether the market will continue its uptrend or reverse into a downtrend.
If the H4 chart prints a reversal candlestick pattern, it would indicate the beginning of a bearish trend, which could potentially lead to a downward movement of up to 20,000 points.
After that, a bullish continuation is likely, pushing the price up to around 3400.
This area will be a critical decision point — determining whether the market will continue its uptrend or reverse into a downtrend.
If the H4 chart prints a reversal candlestick pattern, it would indicate the beginning of a bearish trend, which could potentially lead to a downward movement of up to 20,000 points.
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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.