Gold Technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Gold is currently in a consolidation phase, trading sideways between strong support at 3885.00 and immediate key resistance at 4005.66. The market's next direction depends on breaking this range. In a bullish scenario, a decisive 4-hour close above 4005.66 would signal a potential move higher, with the next resistance targets at 4074.15 and then 4129.49. Conversely, in a bearish scenario, if the price fails to break the 4005.66 resistance and is rejected, it will likely fall back down to retest the 3885.00 support.



Conversely, in a bearish scenario, if the price fails to break the 4005.66 resistance and is rejected, it will likely fall back down to retest the 3885.00 support.
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