Gold is currently showing signs of gradual technical recovery on the 4-hour chart after a period of consolidation. The price is slowly breaking out of the previous low-range oscillation zone, with short-term moving averages beginning to curve upward and diverge, indicating a potential strengthening trend in the near term. Moving forward, watch for a possible secondary upward surge after a retracement and consolidation. In the short term, keep an eye on the resistance zone around 3380.
On the hourly chart, there has been a minor pullback, but the momentum and follow-through remain limited. The expectation is that after a brief adjustment, the upward trend may continue with further room for gains.
On the hourly chart, there has been a minor pullback, but the momentum and follow-through remain limited. The expectation is that after a brief adjustment, the upward trend may continue with further room for gains.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.