M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Market Overview
Gold Price Forecast could stay under the bullish momentum on h1 time frame. Therefore the Gold Price Forecast remains above the prior support zone at 4510.391 on h1 time frame. Meanwhile the Gold Price Forecast hasn’t shaped any latest support zone, as the Gold Price Forecast remains aligned with the previous support zone at 4555.318 on h1 time frame. On the other hand, the m15 time frame shifted the character to the bearish side, as the Gold Price Forecast closes below 4607.971 on m15 time frame. As a result Gold Price Forecast produced the fresh resistance at 4614.735 on m15 time frame.
Support Zones
M15 Support Zone
4544.684 – 4541.110
Pending Demand Zone
Short Term Support Zone
H1 Support Zone
4562.812 – 4555.318
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
4614.735 – 4616.181
Fresh Supply Zone
Short Term Resistance Region
H1 Resistance Zone
4726.533 – 4740.502
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price may carry on the bullish momentum on h1 time frame. Therefore price respects the recent support zone at 4510.391 on h1 time frame. Meanwhile a define close below 4510.391 on h1 time frame. As a result price may tilt the bias to the bearish side and may create the fresh resistance at 4555.318 – 4562.785 on h1 time frame. In addition, a sustained close above 4616.181 on m15 time frame. However the price could shift the short term bias to the bullish side and may shape the fresh support at 4609.259 – 4607.862 on m15 time frame.
Nyc Session Outlook
Although the price may remain favored towards the bullish side on h1 time frame. Therefore the price remaining above the prior support at 4510.391 on h1 time frame. Meanwhile the previously established support zone would remain valid on h1 time frame at 4562.812. In addition, m15 time frame secured the bullish momentum, as the price closes above resistance at 4573.098 on m15 time frame. As a result price formed the fresh support at 4565.892 on m15 time frame
Key Support & Resistance Zone
Support Zones
M15 Support Zone
4565.892 – 4564.567
Fresh Demand Zone
Short Term Support Zone
H1 Support Zone
4562.812 – 4555.318
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
4595.991 – 4598.065
Pending Supply Zone
Short Term Resistance Region
H1 Resistance Zone
4726.533 – 4740.502
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price may remain favorable to the buyers side on h1 time frame. Therefore price remaining above nearby support zone at 4510.391 on h1 time frame. Meanwhile a confirmed breakdown below 4510.391 on h1 time frame. As a result price may initiate the downside rally and could confirm the fresh resistance at 4555.318 – 4562.785 on h1 time frame. In addition, a breakdown below 4560.472 on m15 time frame. However the price could establish the bearish structure and may print the fresh resistance at 4564.567 – 4565.892 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