Global Gold Analysis (Daily Time Frame)
Gold continued its upward trend like in previous weeks. After a pullback to the $2,657 area, it managed to reach the $2,725 resistance level for the third time.
Main Scenario: It is expected that after a slight correction, Gold will be able to break through the $2,725 resistance and move toward the $2,749 and $2,762 areas.
Alternative Scenario: If the above scenario does not occur and Gold reverses from this area, it could first move toward the $2,657 area.
Gold Analysis (4-Hour Time Frame)
Main Scenario: It is expected that Gold will range a bit and form a pattern below the $2,725 area before breaking through this level and moving toward the $2,749 and $2,762 areas.
Alternative Scenario: If Gold breaks and stabilizes below the $2,696 area, the next target will be the $2,677 area.
Gold Analysis (15-Minute Time Frame)
Main Scenario: If Gold breaks below the $2,700 support and stabilizes below it, the next targets will be the $2,690 and $2,677 areas.
Alternative Scenario: If Gold reverses from the current area, the first target will be the $2,717 area, and if it breaks and stabilizes above it, the next target will be the $2,725 area and higher levels.