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 continue to favors the buyers on h1 time frame. As a result Gold Price Forecast trades above the last support zone at 4751 on h1 time frame. Meanwhile the m15 time frame extending the yesterday’s bearish momentum on m15 time frame. As a result Gold Price Forecast trades below the last resistance at 4812 on m15 time frame. In addition the h1 structure hasn’t formed any fresh demand zone on h1 time frame. Therefore the pending support would remain valid on h1 time frame. Moreover, a finish below 4767.939 on m15 time frame could indicate the continuation of bearish momentum and set up the fresh resistance at 4804.866 – 4806.211 on m15 time frame.
Support Zones
M15 Support Zone
4727.587 – 4723.621
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
4610.388 – 4600.981
Pending Demand Zone
Higher Time Frame Resistance Region
Resistance Zones
M15 Resistance Zone
4806.712 – 4812.871
Pending 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 Gold Price Forecast is likely to hold the bullish bias on h1 time frame. As a result Gold Price Forecast stay above the last support at 4751.486 on h1. Therefore, a close below 4751.486 on h1 time frame. As a result Gold Price Forecast may tilt the bias to downside and may shape the fresh resistance at 4782.048 – 4796.52 on h1 time frame. On the other hand, if Gold Price Forecast post a close above 4812.871 on m15 time frame. As a result Gold Price Forecast could signal the bullish shift and may introduce the fresh support zone at 4787.638 – 4772.689 on m15 time frame.
Nyc Session Outlook
Although the price may maintain to favor the buyers on h1 time frame, as the price remains above the last support zone at 4751.486. Meanwhile the m15 time frame continuing the bearish structure, while staying below the last resistance at 4812.871. In addition the price hasn’t confirmed any fresh resistance on m15 time frame. On the other hand the h1 structure hasn’t validate any fresh support zone on h1 time frame. Therefore the pending zone would remain valid on bot the time frame.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
4727.587 – 4723.621
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
4610.388 – 4600.981
Pending Demand Zone
Higher Time Frame Resistance Region
Resistance Zones
M15 Resistance Zone
4828.686 – 4830.507
Pending 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 likely favor bullish momentum on h1 time frame. As a result price trades above the last support at 4751.486 on h1. Therefore, a decisive close below 4751.486 on h1 time frame. As a result price would shift the bias to bearish side and could shape the fresh resistance at 4782.048 – 4796.52 on h1 time frame. On the other hand, a close above 4812.871 on m15 time frame. As a result price may signal the bullish shift and could shape the fresh support zone at 4787.638 – 4772.689 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