Global Gold Analysis (Daily Time Frame)
As highlighted in last week’s analysis, global gold managed to break above the $2,665 resistance level, moving toward higher levels and closing the trading week at $2,689.
- Main Scenario: Gold is expected to continue its upward trend after a minor correction. If it breaks and stabilizes above the critical $2,693 zone, the next target will be the $2,726 range.
- Alternative Scenario: If gold fails to stabilize above the $2,693 zone, a price reversal may occur, with a potential decline toward the $2,665 range.
Gold Analysis (4-Hour Time Frame)
- Main Scenario: If gold breaks and stabilizes above the critical $2,693 zone, the next target will be $2,726.
- Alternative Scenario: If the above scenario does not materialize, gold could experience a decline toward the $2,665 range.
Gold Analysis (15-Minute Time Frame)
- Main Scenario: If gold breaks above the $2,697 resistance level, it could move toward the $2,726 range.
- Alternative Scenario: If gold breaks and stabilizes below the $2,684 support level, the next target will be $2,664.