Gold, Technical Analysis – H4
Gold briefly tested the psychological $4,000 level before buyers stepped in. With a narrowing trading range and limited technical support, further consolidation may precede a downward impulse.
Gold briefly dipped below the psychological $4,000 level yesterday, but bulls bought the discount. Nevertheless, a clear narrowing of the trading range is evident (lower highs and higher lows), along with a lack of strong technical support at current levels (a purely psychological mark alone will not provide lasting support). Thus, after some further consolidation (for which sufficient room still remains), an impulse move below $4,000 per ounce can be expected.
Key Levels:
⬜ Support: $4,000
⬜ Resistance: $4,090
Primary Scenario:
Consolidation within the $4,000–$4,090 range.
Alternative Scenario:
Decline below $4,000.
Analyst Commentary:
Intraday rallies may be used by sellers to add to short positions.
Nikolai Krishtopov es analista de mercado en Investizo, con más de 15 años de experiencia en el sector de los mercados financieros y más de una década de experiencia operando. Sus áreas de interés incluyen los mercados de forex y criptomonedas, el análisis técnico, el trading intradía y el comportamiento del mercado.