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After forming a consolidation area near (5120-5080), the price broke through the sideways oscillation range and quickly recovered to the upper resistance area. The market is currently approaching the resistance zone (5195 – 5206), a key supply zone that will determine whether the uptrend can continue.
In the short term, buying pressure dominates, with prices rebounding strongly from the sideways range while breaking above the downtrend line on the first half time frame. However, the H4 candle has not yet confirmed a full breakout of the (5173 – 5175) area, so the possibility remains that the market will liquidate liquidity at both ends (H4 borders) before a clear trend is established.
The H4 exponential moving average still maintains the medium-term uptrend structure, but the short-term downtrend (H2 – H1 – M30) continues, indicating a mismatch in trends on different time frames.
– The area (5195 – 5206) is considered an important resistance area. If the H4 candle breaks above it, the upward momentum may resume. As for the area (5110 – 5118), it is considered an important support area. If broken, upward momentum will diminish and prices may continue to trade sideways within the same range.
✅ Discount:
1. Purchase scenario:
– The H1 candle confirms the breakout of this area (5195 – 5206), which confirms the rebound from the uptrend structure.
– Target levels: 524x – 528x.
2. Purchase retest scenario:
– If price fakes a breakout of this area (5173 – 5175), the market may retest this area (5138 – 5142) or even move deeper into this area (5110 – 5118) before breaking out again.
– Target levels: 3 – 6 – 10 – 15 price points => Take Profit extended.
❗If price (on the one-hour time frame) breaks out of this area (5110 – 5118), the current uptrend will collapse and the market may return to sideways movements.
❗If the price continues to break above this area (5051 – 5062), the downward momentum will continue and the downtrend may regain control.
Buy gold at a specific price: 5138 – 5140
Stop loss: 5134
✅ First target: 5143
✅ Second target: 5160
Buy gold at a specific price: 5116 – 5118
Stop loss: 5112
✅ First target: 5121
✅ Second target: 5133
Sell gold at a specific price: 5204 – 5206
Stop loss: 5210
✅ First target: 5201
✅ Second target: 5189
Sell gold at a specific price: 5249 – 5251
Stop loss: 5255
✅ First target: 5246
✅ Second target: 5133
