M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Market Overview
Although the Gold Price Forecast may keep trading in bullish price structure on h1 time frame. As a result Gold Price Forecast trades stay above the last support zone at 4751 on h1 time frame. On the other the m15 time frame shifted the short term bias to the bearish side. As a result Gold Price Forecast closes below the last support at 4827 on m15 time frame and set up the fresh resistance zone at 4826 0n m15 time frame. Meanwhile the h1 time frame hasn’t established any fresh support zone on h1 time frame. Therefore the pending support zone would remain valid on h1 time frame.
Support Zones
M15 Support Zone
4811.078 – 4809.218
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
4768.564 – 4751.486
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
4826.936 – 4830.504
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4890.951 – 4899.373
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price is may continue to respect the bullish bias on h1 time frame. As a result price maintain to trade above the last support zone at 4751.486 on h1. Therefore if price post a close below 4751.486 on h1 time frame. As a result price would initiate the bearish momentum and may generate the fresh resistance zone at 4782.164 – 4796.585 on h1. In addition, a sustain close above 4830.504 on m15 time frame. As a result price may tilt the bearish into the bullish structure and may shape the fresh support zone at 4821.043 – 4817.012 on m15 time frame.
Nyc Session Outlook
Although the price is likely to hold the bullish bias on h1 time frame. As a result price trades above the last support at 4751.486 on h1 time frame. Meanwhile the m15 time frame continuing its bearish structure, while trading below the last resistance at 4821 on m15 time frame. In addition, the h1 time frame hasn’t confirmed any fresh support zone on h1 time frame. Therefore the pending support levels would remain valid on h1 time frame.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
Although the price trades in bearish structure on m15 time frame. Meanwhile the price hasn’t established any fresh or near by support zones. Therefore awaiting for the new structure.
H1 Support Zone
4768.564 – 4751.486
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
4818.671 – 4821.895
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4890.951 – 4899.373
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price could stay with in the bullish bias on h1 time frame. As a result price maintain to operate above the last support zone at 4751.486 on h1. Therefore if price record close below 4751.486 on h1 time frame. As a result price may initiate the bearish momentum and could generate the fresh resistance zone at 4782.164 – 4796.585 on h1. In addition, a decisive close above 4821.895 on m15 time frame. As a result price may shift the bearish into the bullish structure and could shape the fresh support zone at 4809.864 – 4805.583 on m15 time frame.
Key Takeways
Trend: Bullish
Bias: Buy On Dips
Follow H1 Structure
Disclaimer
Although this analysis is for educational and informational purposes only. Therefore it does not constitute financial advice. However always manage your risk and trade responsibly.
In addition, check out my Previous Gold Price Forecast
Moreover, for daily gold chart analysis, refer my Gold XAUUSD Analysis section