Global Gold Analysis (Daily Time Frame)
Gold declined again this week, with its price reaching as low as $2,536. In the previous analysis, we examined the continuation of the gold price decline. Now, after a significant correction, two scenarios are under consideration in the daily timeframe:
- Main Scenario: Consider selling positions from corrections below the $2,792.90 level, targeting $2,418.82–$2,304.21.
- Alternative Scenario: A breakout and stabilization above the $2,792.90 level would allow the asset to continue its rise to the $2,880.00–$3,000.00 levels.
Gold Analysis (4-Hour Time Frame)
The structure is entirely bearish, forming a downward trend.
- Main Scenario: If the price fails to break above the $2,577 range, we expect a price rejection towards the $2,490 zone.
- Alternative Scenario: If the $2,577 range is breached, the price is expected to rise towards the $2,625 zone, with the next target at $2,700.
Gold Analysis (15-Minute Time Frame)
After forming a bullish leg, a trading range has developed.
- Main Scenario: Price is expected to decline to the $2,549 zone, followed by a price increase to hunt liquidity and mitigate the supply zone, targeting $2,600.