Gold – Technical Analysis (H4)
Gold is teetering on the edge of a potential breakdown toward the psychological $4,000 zone. A pullback to the $4,425 area currently offers the most attractive selling opportunity before a sharper move lower.
Gold is sitting on the edge of a potential collapse in price that could extend all the way down to the psychological $4,000 zone. Given the size of the timeframe, such a scenario is likely to unfold over several trading days and will probably spill into the following trading week. The most attractive selling zone remains the previous swing high near $4,425.
Key Levels:
⬜ $4,425 – optimal sell zone / resistance
⬜ $4,000 – psychological support target
Primary Scenario:
Pullback higher toward $4,425, followed by a sharp reversal lower.
Alternative Scenario:
Consolidation around current levels.
Analyst Commentary:
A series of bearish patterns on lower timeframes (Over & Under, Head-and-Shoulders) also point to a high probability that the uptrend is coming to
The trade levels, signals and forecasts in this article are calculated automatically from technical indicators and price history. They are not investment advice or a recommendation to buy or sell any financial instrument. Past performance and forecasts do not guarantee future results. Risk Warning: CFDs are complex financial products traded on margin. Trading CFDs is risky and may not be suitable for all investors. Ensure you understand the risks involved as you may lose all your invested capital.
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.
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