Gold, Technical Analysis – H1
Gold is targeting the 3,990 support zone, where strong buying interest is expected within the bullish Over&Under pattern.
The price is targeting the support area of $3,990, where active buying demand can be expected as part of the bullish Over&Under pattern. An additional factor supporting an upward bounce is the psychological significance of the round $4,000 level.
Key Levels:
□ 3,990
□ 4,000
Primary Scenario:
Decline into the 3,990–4,000 area, followed by a sharp rebound higher.
Analyst Commentary:
The indicated area is suitable for placing pending limit buy orders.
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.