Gold, Technical Analysis – H1

Gold aggressively closed the gap in the $4,220 area with a powerful two-hour swing yesterday. However, bears have retained strong momentum, making the $4,220 support level appear likely to break. A breakdown should drive prices lower toward $4,130 per ounce.

Key Levels:

□ 4,220 (critical support, at risk of breakdown)

□ 4,130 (primary downside target)

Primary Scenario:

Decline toward $4,130.

Alternative Scenario:

Accumulation of bearish potential above $4,220.

Analyst Commentary:

In the current market environment, only short positions should be considered. The technical structure clearly favors further downside.