Hey traders!
Gold remains elevated with ongoing volatility.
In the European session, price broke its morning high and tested upper resistance.
Avoid overtrading during the US session—geopolitical uncertainty and month/week chart closings raise risk of sharp moves.
Daily chart: Price is above short-term moving averages. A firm close above 4540 tonight signals bullish continuation next week; otherwise, range-bound consolidation persists.
Hourly chart: Short-term resistance triggered a pullback. Immediate support lies at 4522–4524.
Range has narrowed to 4520–4545. Trade breakouts in this zone with trend alignment.
Strategy:
1. Buy near 4490–4500; add on pullbacks to 4465–4470. Stop loss: 4443. Initial target: 4530–4550; extend to 4570–4580 on breakout above 4545.
2. Additional strategies will be posted in the channel—check the right-hand panel for updates.