#GOLD ⟶ THE NEXT BIG MOVE?!
🥇#GOLD / ⏳1-hour timeframe:
👉GOLD is currently within an rising wedge pattern on the 4-hour timeframe.
👉Additionally, it's trading above its weekly support at 2505.100.
✅As a result, there's a bullish bias towards the following targets:
🎯Target 1: 2539.220
🎯Target 2: 2565.950
🎯Target 3: 2581.773-2585.950
✅There are two key support levels that could prevent a decline and potentially initiate a new uptrend:
1️⃣First support: The low of the 1-hour bullish channel, which has already been touched.
2️⃣Second support: 2505.100
❌Stop-loss for the bullish scenario: A break below 2505.100 on the 4-hour timeframe. If this happens, the trend for GOLD will shift from bullish to bearish👆👇
🔄If the stop-loss is triggered, the analysis will be updated
👉GOLD is currently within an rising wedge pattern on the 4-hour timeframe.
👉Additionally, it's trading above its weekly support at 2505.100.
✅As a result, there's a bullish bias towards the following targets:
🎯Target 1: 2539.220
🎯Target 2: 2565.950
🎯Target 3: 2581.773-2585.950
✅There are two key support levels that could prevent a decline and potentially initiate a new uptrend:
1️⃣First support: The low of the 1-hour bullish channel, which has already been touched.
2️⃣Second support: 2505.100
❌Stop-loss for the bullish scenario: A break below 2505.100 on the 4-hour timeframe. If this happens, the trend for GOLD will shift from bullish to bearish👆👇
🔄If the stop-loss is triggered, the analysis will be updated
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