BTC $63,820.00 ▲ 0.82% ETH $1,868.03 ▼ 0.30% USDT $0.9991 ▼ 0.01% BNB $591.07 ▲ 0.47% XRP $1.08 ▲ 0.09% SOL $73.97 ▲ 0.62% DOGE $0.0704 ▼ 0.50% SHIB $0.00000503 ▲ 1.91% PEPE $0.00000294 ▲ 1.11% BTC $63,820.00 ▲ 0.82% ETH $1,868.03 ▼ 0.30% USDT $0.9991 ▼ 0.01% BNB $591.07 ▲ 0.47% XRP $1.08 ▲ 0.09% SOL $73.97 ▲ 0.62% DOGE $0.0704 ▼ 0.50% SHIB $0.00000503 ▲ 1.91% PEPE $0.00000294 ▲ 1.11%
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Piyasa

Identifying key support zones is crucial.

Identifying key support zones is crucial.

Hello everyone:

On the 1-hour chart, gold is currently trading within a range-bound pattern, with resistance above and support below. The price is fluctuating between 4000 and 4100; barring any major news, it is unlikely to break out of this range in the near term. This provides us with a clear trading strategy.

Our strategy for today—going long in the 4015–4025 range and shorting in the 4080–4090 zone—has proven highly accurate. We consistently maintain a high success rate in analyzing gold market movements, thanks to a combination of effective analytical frameworks and extensive practical trading experience. If you are interested in learning more, we can discuss this further.

Looking at the market action, the gold price has retested the key support zone, and downward momentum appears to be waning; we now need to monitor whether the 4015–4025 support level holds firm. From a medium-term perspective, until gold breaks through the $4100 mark, any rallies should essentially be viewed as technical corrections within a broader downtrend.

The overall trend for gold remains bearish, so when going long, it is essential to identify a safe entry point with an adequate margin of safety. Regarding resistance, we continue to focus on the 4080–4090 zone. Gold is currently moving within a converging triangle pattern; therefore, it is vital to use stop-loss orders to guard against a potential trend reversal.

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