Gold, Technical Analysis – H1
Gold is currently undergoing an upward technical correction without any clear signs of a new trend or reversal.
Gold is currently undergoing an upward technical correction without any clear signs of a new trend or reversal. As a result, any strong resistance level could trigger a renewed and forceful decline. The key resistance zone lies at 4,080–4,090, where the price converges with the “slow” trend line.
Key Levels:
□ 4,080–4,090 (major resistance / correction target)
□ 4,050–4,060 (secondary resistance)
Primary Scenario:
Correction toward the 4,080–4,090 zone, followed by a sharp downward reversal.
Alternative Scenario:
Bullish weakness may also appear in the 4,050–4,060 area.
Analyst Commentary:
Gold remains highly susceptible to speculative sentiment. Entering the market without a clearly formed technical signal is not advisable.
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.