š¹ Current Overview
- Gold Price: Around $4,134/oz
- Trend: Clear bullish (buy) trend
- Moving Averages (EMAs):
- Both the short-term (blue) and medium-term (orange) EMAs are trending upward ā confirming strong buying momentum.
- Recent candles show a small correction near the top ā likely a pullback before continuation.
š¹ Key Support & Resistance Zones
| Type | Price Range (Approx.) | Description |
|---|---|---|
| 1st Support | 4,130 ā 4,120 | Minor support zone; potential buy area |
| 2nd Support | 4,110 ā 4,100 | EMA confluence + previous breakout zone |
| 3rd Support | 4,075 ā 4,060 | Strong structural support; key defense zone for bulls |
| 1st Resistance | 4,155 ā 4,160 | Immediate target zone; possible selling pressure |
| 2nd Target | 4,180+ | Extended bullish target if momentum continues |
š¹ Possible Scenarios & Trade Ideas
š© Scenario 1 (Most Likely): Trend Continuation
- Expect a pullback to 4,130ā4,120, then a bounce upward.
- Entry: ~4,125 (buy)
- Stop-loss: below 4,105
- Target 1: 4,155
- Target 2: 4,180
ā”ļø Both EMAs and structure support a bullish continuation.
šØ Scenario 2: Deeper Pullback Before Rebound
- If price dips to 4,100 or 4,075, look for bullish signals (reversal candles or volume spike).
- These areas align with EMA200 / structural support, making them solid buy zones.
š„ Scenario 3: Bearish Reversal
- If gold closes below 4,060, the short-term uptrend may break.
- Next downside targets could be 4,040ā4,020.
š¹ Summary
Gold remains in a strong buy trend with a healthy pullback in progress.
As long as price stays above 4,060, the market structure supports buy-the-dip strategies.
Look for bullish reactions from 4,120ā4,100 to join the uptrend.
Good