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After successfully regaining the 4500 area by buying, gold is now trading sideways in a narrow range.
At present, the market is still greatly affected by the following factors:
US and Iran News
oil price fluctuations
and the Fed’s interest rate forecasts.
Peace news → Oil falls → Gold rebounds
Stressful news → Oil prices rise → Gold faces pressure from inflation and bond yields
Additionally, tonight the market is focused on the inauguration of Kevin Warsh as the new Federal Reserve Chairman,
This could increase volatility and liquidity sweeps in the short term.
personal vision
Currently, gold fluctuates within the following range:
4500 | 4550
If the price manages to significantly break above 4550 → the market may continue to rally to:
458X | 4600 | 4600 4620 | 4620 4650
However, if there is a clear fall below 4500 → gold prices may continue to fall towards:
4480 | 4480 4450 | 4450 4420
Pay special attention to the 4415X area – I prefer to monitor this area for short-term buy reaction trades.
main idea
Gold remains trading sideways in a narrow range
The 4500 level is still an important structural area
The market awaits a clear breakout to determine its next move
“The longer the market remains compressed in a tight range, the stronger the next breakout will typically be.”
In your opinion…
After reclaiming 4500, can gold break through to 458X-4600 – or is this just a breather before a deeper breakdown? 🔥