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 may remain favorable for the buyers on h1 time frame. Therefore the trades above support at 4510.345 on h1 time frame. Meanwhile continues to respect the previous support zone on h1 time frame. As a result price hasn’t confirmed any fresh support zones on h1 time frame. However the m15 time frame, may follow the bearish trend, while remaining below the resistance at 4546.967 on m15 time frame. Meanwhile the structure established the lastest resistance at 4547.376 on m15 time frame.
Support Zones
M15 Support Zone
As the price trades in bearish pressure on m15 time frame. Therefore the price hasn’t secured any fresh or pending support zone on m15 time frame. Meanwhile awaiting for the fresh breakout.
H1 Support Zone
4432.137 – 4417.953
Pending Demand Zone
Higher Time Frame Support Base
Resistance Zones
M15 Resistance Zone
4574.376 – 4583.172
Fresh Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
4726.470 – 4740.502
Pending Supply Zone
Higher Time Frame Resistance Zone
Session Strategy
However the price could stay within the bullish side on h1 time frame, as the price holds the prior support 4510.345 on h1 time frame. Meanwhile, acceptance below 4510.345 on h1 time frame. As a result price may validate the bearish bias and may identify the fresh resistance at 4555.194 – 4562.890 on h1 time frame. In addition, a breakout above 4546.967 on m15 time frame, as the price may initiate the bullish momentum and may shape the fresh support at 4529.478 – 4528.276 on m15 time frame.
Nyc Session Outlook
Although the price may hold the bullish momentum on h1 time frame. Therefore the price operates above the prior support zone at 4510.345 on h1 time frame. Meanwhile the price hasn’t secured any fresh support on h1 time frame. In that case the pending zones would remain valid. In addition, the m15 time frame continues the upside extension and established the fresh support at 4537.018 on m15 time frame.
Key Support & Resistance Zones
Support Zones
M15 Support Zone
4537.018 – 4534.035
Fresh Demand Zone
Short Term Support Base
H1 Support Zone
4432.137 – 4417.953
Pending Demand Zone
Higher Time Frame Support Base
Resistance Zones
M15 Resistance Zone
4574.376 – 4583.172
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
4726.470 – 4740.502
Pending Supply Zone
Higher Time Frame Resistance Zone
Session Strategy
However the price may maintains to trade towards the bullish side on h1 time frame, as the price holds the previous support 4510.345 on h1 time frame. Meanwhile, a sustained close below 4510.345 on h1 time frame. As a result price may shift the bias to the bearish side and could identify the fresh resistance at 4555.194 – 4562.890 on h1 time frame. In addition, a breakdown below 4534.035 on m15 time frame, as the price would initiate the bearish continuation and could shape the fresh resistance at 4545.967 – 4552.032 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