#GOLD ON THE RISE? ⟶ WATCH THESE TWO SCENARIOS!!

Gold Analysis Summary #Gold
1-Hour Time-Frame ⏰📊

Given that over the past two weeks, several opportunities for a significant drop have been missed, and #Gold is still trading above its monthly support (October) at 2597.415 🛡️, we view any drop as temporary and expect the bull-trend to continue, aiming for higher highs 📈.

Two scenarios for growth:

Scenario 1: Growth from this point without interruption
If the resistance at 2652.693 is broken in the 4-hour time-frame 🚀📊.

Scenario 2: Temporary drop, then growth
Until Scenario 1 is confirmed, this scenario remains likely. In this case, we might first see a drop to the support zones at 2619.747 or 2580.943-2597.415, after which the drop would end, and the bull-trend would resume 📉➡️📈.
Note: The second support zone has a higher probability of forming a bottom for #Gold compared to the first support zone 🛡️2️⃣⬆️🛡️1️⃣.

Growth targets if either scenario is confirmed:
🎯 Target 1: 2691.497
🎯 Target 2: 2722.915
🎯 Target 3: 2811.140

Stop-loss for the overall growth scenario:
If support at 2597.415 is broken in the daily time-frame, the trend for #Gold will shift from bullish to bearish ❌📉.
............................

Gold Analysis Summary #Gold
15-Minute Time Frame ⏰📉

Scenario 1, which is growth from here, based on the break of resistance at 2652.693 in the 4-hour time-frame, remains valid 📈🚀.

However, if #Gold is going to have another drop before continuing the bull-trend, then before breaking the 2652.693 resistance, the bullish channel shown in the chart and the daily support at 2641.840 in the 15-minute time-frame must be broken 🛑📊.

Support levels (temporary drop targets) have been bull-dated from the previous analysis based on daily drop targets:
🛡 First support: 2617.630 - 2619.747
🛡 Second support: 2597.415 - 2600.570
🛡 Third support: 2580.943

Note: The second support has a higher likelihood of forming a bottom for #Gold compared to the other two 🛡2️⃣⬆️🛡1️⃣.