GOLD resumes rising
Hello everyone,
GOLD 4H NEW FORECAST
Expected scenarios and trading ranges
The first scenario: The upward trend continues towards a target of 2300 .
The second scenario: breaking the support level at 2260 and declining towards 2201.
Third scenario: Trading continues within the range of 2270- 2300.
The price of gold is trading with additional positivity to approach our expected extended target at 2300, and is moving within an ascending channel that supports the chances of achieving more gains in the long term, noting that the next positive station reaches 2320.
Therefore, the bullish trend scenario will remain valid and effective for the coming period, supported by the 50 moving average, which continues to carry the price from below, keeping in mind that breaking 2260will stop the upward impulse and put pressure on the price to test the 2201 areas before any new positive attempt.
GOLD 4H NEW FORECAST
Expected scenarios and trading ranges
The first scenario: The upward trend continues towards a target of 2300 .
The second scenario: breaking the support level at 2260 and declining towards 2201.
Third scenario: Trading continues within the range of 2270- 2300.
The price of gold is trading with additional positivity to approach our expected extended target at 2300, and is moving within an ascending channel that supports the chances of achieving more gains in the long term, noting that the next positive station reaches 2320.
Therefore, the bullish trend scenario will remain valid and effective for the coming period, supported by the 50 moving average, which continues to carry the price from below, keeping in mind that breaking 2260will stop the upward impulse and put pressure on the price to test the 2201 areas before any new positive attempt.
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