M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| New York
London Market Overview
Although, Gold Price Forecast remains bullish, as the price established fresh demand at 5325.440. In addition, during asian session the price formed higher high and low. Moreover, during the london open, the price established fresh intraday demand zone at 5325.440 on h1 . Meanwhile during london the gold price forecast remains bearish. As a result, sellers took control precisely and pushed down the price till 5374.700. Therefore the price will remain bullish until price closes below 5325.440 on h1.
Resistance Zones
M15 Resistance Zone
5411.300 – 5426.033
Tapped supply zone
Currently market is at the reaction area
H1 Resistance Zone
5438.134 – 5450.902
Untapped supply zone
Likely resistance reaction area
Support Zones
M15 Support Zone
5349.957 – 5340.964
Short-term demand zone
Likely support reaction area
H1 Support Zones
5325.440 – 5304.166
Higher timeframe demand zone
Likely support reaction area
Session Strategy
Although the gold price forecast, structure favors the buyers on the h1 higher time frame. In addition the buyers are dominating the price in the gold. On the other hand sellers are active at 5438.134 – 5450.902 may dominate the price, and may push the price towards the downside form this level but till then upside momentum remains intact for now. As a results, the price holds 5304 on h1 higher time frame, the upside momentum remains intact. Moreover a close below 5304 may confirm the change of character shift towards the bearish side. Therefore while making the fresh resistance on h1 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.
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