Gold (XAUUSD), Technical Analysis – H1
Gold has likely completed its medium-term downtrend.
Gold has likely completed its medium-term downtrend. This is evidenced not only by the bears’ successful defense of the psychologically significant $4,000 level, but also by the preservation of higher lows and rising support structure on the longer-term timeframe. The critical resistance for a full trend reversal lies at $4,070, where the descending trendline is located. A decisive and sustained break above this level would hand full control to the bulls.
Key Levels:
□ $4,000 — psychological support
□ $4,070 — descending trendline & key resistance
□ $4,100 — next consolidation target
Primary Scenario:
Rise toward the $4,070 zone, followed by an attempt to consolidate above $4,100.
Alternative Scenario:
Consolidation within the $4,030–$4,070 range.
Analyst Commentary:
Several analysts are highlighting the pronounced divergence between copper and gold prices. This divergence may act as a significant bullish oscillator and could support further strength in gold.
Nikolai Krishtopov ialah Penganalisis Pasaran di Investizo dengan lebih 15 tahun pengalaman dalam industri pasaran kewangan dan lebih sedekad pengalaman berdagang. Bidang tumpuannya merangkumi pasaran forex dan kripto, analisis teknikal, dagangan intraday serta gelagat pasaran.