Gold, Technical Analysis – H1
Gold continues its orderly upward move within a series of bullish flags on the H1 timeframe. Buyers must defend the 4,325–4,350 support zone today to keep the structure intact; a break risks deepening the corrective decline below 4,300.
Gold is currently advancing in a measured fashion as it works through a sequence of bullish flags. For this constructive structure to remain valid, buyers need to defend the support zone at $4,325–4,350 today — the upper boundary of the most recent flag. A decisive break of this area would undermine the local bullish trend and open the way for an extension of the downward correction, with prices potentially sliding below the psychological $4,300 level.
Key Levels:
□ 1. Support: $4,325–4,350
□ 2. Psychological support: $4,300
□ 3. Upside target: $4,450
Primary Scenario:
Pullback into the $4,325–4,350 zone, followed by a resumption of the advance toward $4,450.
Alternative Scenario:
Break and sustained trade below $4,300.
Analyst Commentary:
Confirmation signals are required before committing to further upside, as the asset has encountered a dense cluster of resistance on higher timeframes.
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.