M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Market Overview
However the Gold Price Forecast may keep trading in the bullish price structure on h1 time frame. As a result Gold Price Forecast holds above the last support at 4751 on h1 time frame. Meanwhile the m15 time frame extending the yesterday’s bullish structure and developed the fresh support at 4790.669 on m15 time frame. In addition, a decisive close above 4871 on h1 time frame, may create the fresh support zone at 4798.236 – 4786.443 on h1 time frame. Meanwhile the pending support would remain valid on h1 time frame, as the Gold Price Forecast hasn’t established any fresh support zone on h1.
Support Zones
M15 Support Zone
4790.669 – 4787.994
Fresh Demand Zone
Short Term Key Support Base
H1 Support Zone
4768.564 – 4751.486
Pending Demand Zone
Higher Time Frame Resistance Region
Resistance Zones
M15 Resistance Zone
As the follows the bullish bias on m15 time frame. Therefore the Gold Price Forecast hasn’t established any fresh or near by resistance on m15 time frame.
H1 Resistance Zone
4890.951 – 4899.373
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
Although the price may remain in the favor of the buyers on h1 time frame. As a result price stay above the last support zone at 4751.486 on h1. Therefore, if price settle below 4751.486 on h1 time frame. As a result price may indicate the initiation of downside structure and could set up the fresh resistance at 4782.048 – 4796.521 on h1. Moreover, a close below 4787.994 on m15 time frame, the price may validate character shift to the bearish side and may establish the fresh resistance at 4828.625 – 4830.660 on m15 time frame.
Nyc Session Outlook
Although the price may carry on the bullish structure on h1 time frame. As the price trades above the last support at 4751.486 on h1. Meanwhile the m15 following the bullish bias, as the price stay above the last support at 4787.944 on m15 time frame. Although the price hasn’t established any fresh support on both the time frame m15 and h1. Therefore the pending support zone on h1 and m15 time frame would remain at the same level.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
4790.669 – 4787.994
Fresh Demand Zone
Short Term Key Support Base
H1 Support Zone
4768.564 – 4751.486
Pending Demand Zone
Higher Time Frame Resistance Region
Resistance Zones
M15 Resistance Zone
As the follows the bullish bias on m15 time frame. Therefore the price hasn’t established any fresh or near by resistance on m15 time frame.
H1 Resistance Zone
4890.951 – 4899.373
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price is expected to remain in the favor of buyers on h1 time frame. As a result price trades above the last support zone at 4751.486 on h1. Therefore, a finish below 4751.486 on h1 time frame. As a result price would indicate the downside structure and may set up the fresh resistance at 4782.048 – 4796.521 on h1. Moreover, a define close below 4787.994 on m15 time frame, the price would validate character shift to the bearish side and may shape the fresh resistance at 4828.625 – 4830.660 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