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– On the H4 time frame, the weekly candle confirmed a break above the descending trendline and closed above the 34 EMA, indicating the return of buying pressure in the market. At the same time, the lower top pattern has been broken, opening the possibility of a clearer uptrend.
– Judging from the trend structure, the H4 EMA still maintains a medium-term upward trend, with the 34 EMA located above the 89 EMA. However, on the H2, H1 and M30 time frames, the 34 EMA is still lower than the 89 EMA, indicating that there is still adjustment pressure in the short term.
– This area (5196 – 5207) is the key resistance area and the closest top of the pattern. If the price breaks out of this area, the bullish momentum may continue.
– This area (5083 – 5095) is an important support area as it converges with the higher bottom pattern based on the uptrend. If the price exceeds this area, the uptrend will weaken and the likelihood of a continued decline increases.
✅ Discount:
1. Continue to purchase:
– The price remains above the 34 EMA (4-hour time frame).
– Confirmation of breakout of lower tops and downtrend lines.
– The price confirms the breakout of the resistance area (5196 – 5207).
= => When conditions are confirmed, the uptrend expands. Goal: 520 – 524.
= => When price breaks out of this area (5249 – 5251), there is strong upward momentum.
2. Retest purchase:
– If there is a false breakout of this area (5196 – 5207), the market may retest this area (5135 – 5138) before breaking out again, or even deeper (5116 – 5120).
= => Target: 3 – 6 – 10 – 15 price points => Extend take profit.
❗Currently, the upward direction is unclear. The market is still seeing several false breakouts and periods of broad consolidation, suggesting that large funds are waiting for confirmation before pushing prices in a clearer direction.
Buy gold at a specific price: 5134 – 5136
Stop loss: 5130
✅ First target: 5139
✅ Second target: 5156
Buy gold at a specific price: 5118 – 5120
Stop loss: 5114
✅ First target: 5123
✅ Second target: 5140
Sell gold at a specific price: 5217 – 5219
Stop loss: 5223
✅ First target: 5214
✅ Second target: 5201
Sell gold at specific price: 5249 – 5151
Stop loss: 5255
✅ First target: 5246
✅ Second target: 5231
