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.
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.
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.