Global Gold Analysis (Daily Time Frame)
In the past week, global gold (XAU/USD) has continued its strong bullish trend, disregarding economic data and constantly setting new highs. The key question now is how long this relentless rally will continue and when and where the first correction might occur.
- Main Scenario: Given the trend momentum and candlestick structure, gold is expected to continue moving toward new highs. If it breaks and stabilizes above $2,887, this scenario will be confirmed.
- Alternative Scenario: If the above scenario fails and gold initiates a correction, it could pull back to $2,790 as a retracement (pullback) to the previous high. Alternatively, gold could consolidate and form a range as a time correction before continuing its uptrend.
Gold Analysis (4-Hour Time Frame)
- Main Scenario: If gold breaks and stabilizes above $2,887, it could move toward new historical highs, continuing its bullish rally.
- Alternative Scenario: If the above scenario fails and gold breaks below $2,834, the next downside target will be $2,790.
Gold Analysis (15-Minute Time Frame)
- Main Scenario: A bearish divergence has been observed on this timeframe, suggesting a potential correction. If gold breaks and stabilizes below $2,853, the next downside targets will be $2,834 and $2,790.
- Alternative Scenario: If gold does not correct and breaks above $2,865, the next upside targets will be $2,886 and potentially higher levels.