Global Gold Analysis (Daily Time Frame)
Daily Time Frame Over the past week, the global gold ounce reached its historical high after 3 months and managed to break through the important area of $2,790. Based on the type of candle formed on the last trading day, we need to see if it still has the tendency to move higher this week.
- Main Scenario: If buyers are strong enough to create good candles in the coming week and stabilize above the $2,790 high, it can move towards new highs.
- Alternative Scenario: If it turns down from this area, a correction to around $2,730 is expected. We need to see how and with what strength it reaches this area.
Gold Analysis (4-Hour Time Frame)
- Main Scenario: If gold pulls back to the $2,786 area and then breaks the $2,817 resistance after completing the pullback, it can move towards new historical areas.
- Alternative Scenario: If the above scenario does not occur and the $2,786 area breaks strongly downwards, the next target for gold could be $2,745.
Gold Analysis (15-Minute Time Frame)
- Main Scenario: If gold stabilizes below the $2,794 area, it can next move towards $2,788 and lower targets.
- Alternative Scenario: If gold can stabilize above the $2,802 high, it can move towards its last high at $2,816.