Gold, Technical Analysis – H1

There are two key bearish prerequisites: an unfilled gap around $4,220 and a confirmed short signal formed at the $4,340 level. After a period of consolidation near $4,340, we expect the market to shift into a downward swing.

Key Levels:

◻️ $4,340 (resistance / consolidation zone)

◻️ $4,220 (support / unfilled gap target)

Primary Scenario:

Decline from the $4,340 area toward $4,220.

Alternative Scenario:

Prolonged consolidation or a false breakdown below $4,340, leading to a potential upside continuation if the gap remains unfilled.

Analyst Commentary:

The setup offers favorable probability of execution combined with an attractive risk-to-reward ratio.