M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Session Overview
Gold Price Forecast may remain aligned with the buyers strength on h1 time frame. As a result price holds previous low at 4648.455 on h1 time frame. However price continues to honour the pending support zone on h1 time frame. In addition, the m15 structure remains on the buyers side, while trading above the recent low at 4638.575 on m15 time frame. Meanwhile the projected demand zone would remain valid, as the price hasn’t established any fresh support zone on m15 time frame. Moreover, a break above 4727.070 on m15 time frame, as the structure could identify the fresh support at 4692.041 – 4687.893 on m15 time frame.
Support Zones
M15 Support Zone
4556.380 – 4553.460
Pending Demand Zone
Short Term Support Area
H1 Support Zone
4510.643 – 4501.270
Pending Demand Zone
Higher Time Frame Support Base
Resistance Zones
M15 Resistance Zone
4743.843 – 4748.748
Pending Supply Zone
Short Term Resistance Area
H1 Resistance Zone
4794.589 – 4797.986
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price may continue to reflect the buyers strength on h1 time frame. Therefore the price holds the last low at 4648.455 on h1 time frame. Meanwhile, a sustained close below 4648.455 on h1 time frame. As a result price may support the sellers and markout the fresh resistance at 4682.403 – 4686.174 on h1 time frame. In addition, a confirmed close below 4638.422 on m15 time frame, as the price may secure the bearish structure and form the fresh resistance at 4679.550 – 4689.177 on m15 time frame.
Nyc Session Outlook
Although the price could continue the bullish extension on h1 time frame, as the price stay above the last low at 4648.455 on h1 time frame. Meanwhile the pending support zone would act as the valid support because the price hasn’t formed any fresh support on h1 time frame. On the other hand, the m15 time frame stay aligned with the bullish trend, while trading above the recent low at 4638.422 on m15 time frame. However the price remains respected towards the prior support zones on m15 time frame.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
4556.380 – 4553.460
Pending Demand Zone
Short Term Support Area
H1 Support Zone
4510.643 – 4501.270
Pending Demand Zone
Higher Time Frame Support Base
Resistance Zones
M15 Resistance Zone
4743.843 – 4748.748
Pending Supply Zone
Short Term Resistance Area
H1 Resistance Zone
4794.589 – 4797.986
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price may remains aligned with the bullish bias on h1 time frame. Therefore the price hovers above the last low at 4648.455 on h1 time frame. However, a define close below 4648.455 on h1 time frame. As a result price could support the downside continuation and may establish the fresh resistance at 4682.403 – 4686.174 on h1 time frame. On the other hand, a secured close below 4638.422 on m15 time frame, as the price could introduce the bearish structure and may build the fresh resistance at 4679.550 – 4689.177 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