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 broke the yesterday’s bearish bias and established the bullish structure amid mid nyc yesterday on h1 time frame. Therefore the Gold Price Forecast positioned above the recent low at 4648.394 on h1 time frame. Meanwhile the Gold Price Forecast established the fresh demand zone at 4686.121 on h1 time frame. In addition, the m15 time frame shows the sellers dominance, as the Gold Price Forecast closes below the lastest low at 4708.098 on m15 time frame. However the secured the fresh resistance at 4743.698 on m15 time frame.
Support Zones
M15 Support Zone
4683.225 – 4670.765
Pending Demand Zone
Short Term Support Base
H1 Support Zone
4686.121 – 4682.348
Fresh Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
4743.698 – 4749.125
Fresh 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 reflect the buyers strength on h1 time frame, as the price remains capped above 4648.394 on h1 time frame. Meanwhile, a move below 4648.394 on h1 time frame. As a result price could shift the bias to the bullish side and introduce the fresh resistance at 4682.348 – 4686.121 on h1 time frame. On the other hand, a break above 4773.648 on m15 time frame. Meanwhile the price may establish the structural shift to the bullish side and may shape the fresh support at 4749.125 – 4743.698 on m15 time frame.
Nyc Session Outlook
Although the price continues to show buyers dominance on h1 time frame. Therefore the price remains above the last low at 4648.394 on h1 time frame. In addition, the price trades with the unchanged support zone on h1 time frame. On the other hand, the m15 follows the bearish bias and trades below recent high at 4773.648. Meanwhile the price trades with the previous resistance zone on m15 time frame.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
4683.225 – 4670.765
Pending Demand Zone
Short Term Support Base
H1 Support Zone
4686.121 – 4682.348
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
4743.698 – 4749.125
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 respect the bullish structure on h1 time frame, as the price remains above the last low 4648.394 on h1 time frame. Therefore, a finish below 4648.394 on h1 time frame. As a result price may shift the structure to the buyers side and may shape the fresh resistance at 4682.348 – 4686.121 on h1 time frame. On the other hand, if price registered a close above 4773.648 on m15 time frame. As a result the price could establish the momentum shift to the bullish side and may markout the fresh support at 4749.125 – 4743.698 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