After the price peaked at (5186 – 5193), it formed a lower peak at (5120 – 5122) and continued to break through the support level (5050 – 5060) while crossing the upward trend line, indicating that the market selling pressure is gradually increasing.

On the time frame (1 hour), a Dow Jones bearish pattern has formed with a series of lower highs and lows. At the same time, the multi-period moving average (H4-H2-H1) confirmed the downward trend, with the 34 EMA crossing below the 89 EMA, reflecting the weakening of the early bullish momentum.

The (5050-5060) area is currently an important resistance area; a breakthrough will start a short-term uptrend. As for the area (4983 – 4996), it is currently considered a key support area. A breakout of this area would lead to a broader downward move in the market.

✅ Discount:
1. Sales scenario:

– The market may retest the broken supply area before continuing the downtrend.

The resistance area (5050 – 5060) is important because it is the intersection between resistance, Fibonacci retracements, the downtrend line, and the exponential moving average.

=> If price fails to break out of this area, the market may continue its downward trend.

=> If the price breaks out of the (4983 – 4996) area, the downward momentum will continue and the next closest targets will be the (4905 – 4908) and (4851 – 4954) areas.

2. Purchase scenario:

– Breakout of the downtrend line.

– The H4 candle confirms a closing price above the exponential moving average area.

– Price breaks out of the resistance area (5050 – 5060).

=> If the above conditions are confirmed, the market may enter a short-term recovery phase.

= The target is the resistance area (5120 – 5122).

= It is worth noting that only when price moves above the zone (5120 – 5122) will the uptrend truly extend and confirm changes in the market structure.

Sell ​​gold at a specific price: 5049 – 5051
Stop loss: 5055
✅ First target: 5046
✅ Second target: 5029

Sell ​​gold at a specific price: 5118 – 5120
Stop loss: 5124
✅ First target: 5115
✅ Second target: 5098

Buy gold at a specific price: 4906 – 4908
Stop loss: 4902
✅ First target: 4911
✅ Second goal: 4923

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