Gold, Technical Analysis – H4
Gold’s trading range continues to contract, with limited space remaining and a bearish bias pointing toward a downside break. Key support at $4,000 remains the critical level to watch, with the primary move expected after the weekend.
The trading range in gold continues to narrow progressively, leaving limited remaining space and indicating that a resolution is approaching. The character of the consolidation remains bearish; therefore, a downside breakout of the range is the more probable outcome. Key support is located at $4,000.
Key Levels:
⬜ 1. $4,000 — key support/range lower boundary
⬜ 2. $4,100 — range upper boundary
Primary Scenario;
Continued consolidation within the $4,000–4,100 range.
Alternative Scenario:
Decline below $4,000.
Analyst Commentary:
The main impulse is likely to unfold after the weekend.
Николай Криштопов — рыночный аналитик Investizo с более чем 15-летним опытом работы в индустрии финансовых рынков и более чем десятилетним опытом трейдинга. В сферу его интересов входят валютный и криптовалютный рынки, технический анализ, внутридневная торговля и поведение рынка.