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 is expected to trade under the bullish structure on h1 time frame. As a result, the buyers remain dominating above 4648.455 on h1 time frame. Meanwhile the Gold Price Forecast trades with same projected support zone on h1 time frame. On the other hand, the m15 time frame stay with the buyers side and trades above the last low at 4638.422 on m15 time frame. However the Gold Price Forecast remains aligned with the previous support zones on m15 time frame.
Support Zones
M15 Support Zone
4555.247 – 4551.749
Pending Demand Zone
Short Term Support Base
H1 Support Zone
4510.643 – 4501.270
Pending Demand Zone
Higher Time Frame Support Region
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 Area
Session Strategy
Although the price could continue show the buyers dominance on h1 time frame. Meanwhile the price positioned above the recent low at 4648.455 on h1 time frame. However, a define close below 4648.455 on h1 time frame, as the price could validate the bearish structure and may shape the fresh resistance at 4682.122 – 4686.106 on h1 time frame. On the other hand, a secured close below 4638.422 on m15 time frame. As a result price may support bearish continuation and print the fresh resistance at 4679.561 – 4689.236 on m15 time frame.
Nyc Session Outlook
However the price may remain under bullish structure on h1 time frame, as the buyers remains above the last low at 4648.455 on h1 time frame. Although the price remains in the same support zone on h1 time frame. In addition, the buyers remains dominating in the m15 time frame. As a result, price trades above the prior low at 4638.422 on m15 time frame. Meanwhile the pending zones would remain active and valid on m15 time frame.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
4555.247 – 4551.749
Pending Demand Zone
Short Term Support Base
H1 Support Zone
4510.643 – 4501.270
Pending Demand Zone
Higher Time Frame Support Region
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 Area
Session Strategy
Although the price could stay with the bullish bias on h1 time frame, as the price positioned above the recent low at 4648.455 on h1 time frame. Meanwhile, a sustained close below 4648.455 on h1 time frame. As a result, price is likely to establish the bearish structure and could introduce the fresh resistance at 4682.122 – 4686.106 on h1 time frame. In addition, if price registered a close below 4638.422 on m15 time frame. As a result price could define the bearish continuation and could print the fresh resistance at 4679.561 – 4689.236 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