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 hold the bullish momentum on h1 time frame. Therefore the price remains above the support at 4510.564 on h1 time frame during the last week. Meanwhile the price still hasn’t created any fresh support zone on h1 time frame. Therefore the pending support zone at 4432 on h1 time frame. In addition, the sellers are controlling the m15 time frame structure, while trading below the latest resistance at 4617 on m15 time frame. As a result price confirmed the fresh resistance at 4615.313 on m15 time frame.
Support Zones
M15 Support Zone
4565.929 – 4564.515
Pending Demand Zone
Short Term Support Zone
H1 Support Zone
4432.137 – 4417.953
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
4615.369 – 4617.369
Fresh Supply Zone
Short Term Support Base
H1 Resistance Zone
4726.533 – 4740.502
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price may continue to respect the bullish momentum on h1 time frame, as price operates above the prior support zone at 4510.564 o h1 time frame. Therefore a finish below on h1 time frame. As a result price may support the bearish bias and form the fresh resistance at 4555.194 – 4562.890 on h1 time frame. In addition, id price holds above 4617.369 on m15 time frame, as the price may signal the initiation of bullish momentum shift and generate the fresh support at 4593.135 – 4591.447 on m15 time frame.
Nyc Session Outlook
Although the price may remain favored towards the bullish side on h1 time frame. Therefore the price remaining above the prior support at 4510.391 on h1 time frame. Meanwhile the previously established support zone would remain valid on h1 time frame at 4432.137. In addition, m15 time frame remains under the bearish pressure, as the price trades below the resistance at 4593.572 on m15 time frame. As a result price formed the fresh resistance at 4592.068 on m15 time frame
Key Support & Resistance Zone
Support Zones
M15 Support Zone
As the price trades in the bearish structure on m15 time frame. Therefore the price hasn’t setup any fresh, pending or nearby support zone in m15 time frame. Meanwhile awaiting for the fresh breakout.
H1 Support Zone
4432.137 – 4417.953
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
4592.068 – 4593.572
Fresh Supply Zone
Short Term Support Base
H1 Resistance Zone
4726.533 – 4740.502
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price may remain favorable to the buyers side on h1 time frame. Therefore price remaining above nearby support zone at 4510.391 on h1 time frame. Meanwhile a confirmed breakdown below 4510.391 on h1 time frame. As a result price may initiate the downside rally and could confirm the fresh resistance at 4555.318 – 4562.785 on h1 time frame. In addition, a breakout above 4593.572 on m15 time frame. However the price could establish the bullish structure and may print the fresh support at 4585.671 – 4584.126 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