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 remain favorable for the buyers on h1 time frame, as the price is continuing the yesterday’s bullish structure. As a result the Gold Price Forecast trades above the latest support at 4501.270 on h1 time frame. Meanwhile the price confirmed the fresh support amid the london session today at 4510.870 on h1 time frame. In addition, the m15 time frame is forming the higher high and higher low. However the Gold Price Forecast established the fresh support at 4649.950 on m15 time frame.
Support Zones
M15 Support Zone
4649.950 – 4644.906
Fresh Demand Zone
Short Term Support Base
H1 Support Zone
4510.870 – 4501.270
Fresh Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
4674.846 – 4676.127
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
4726.431 – 4740.502
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
Although the price could continue to advantage the buyers on h1 time frame. Therefore the price holds the latest support at 4501.270 on h1 time frame. Meanwhile, acceptance below 4501.270 on h1 time frame. As a result price could indicate the downside continuation and may build the fresh resistance at 4632.390 – 4660.494 on h1 time frame. On the other hand , a sustained close below 4644.906 on m15 time frame, as the price could establish the further downside and may form the fresh resistance at 4654.805 – 4656.464 on m15 time frame.
Nyc Session Outlook
However the price may continue towards the bullish side on h1 time frame. Therefore the price remains above the prior support at 4501.270 on h1 time frame. Meanwhile the price remains aligned with previously established support zone on h1 time frame. On the other hand, the m15 time frame secured the fresh support at 4676 on m15 time frame.
Key Support & Resistance Zones
Support Zones
M15 Support Zone
4676.498 – 4671.454
Fresh Demand Zone
Short Term Support Base
H1 Support Zone
4510.870 – 4501.270
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
4755.219 – 4760.842
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
4726.431 – 4740.502
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
Although the price may maintain the bullish structure on h1 time frame. Therefore the price stay above the recent support at 4501.270 on h1 time frame. Meanwhile, a decisive close below 4501.270 on h1 time frame. As a result price may initiate the downside continuation and could build the fresh resistance at 4632.390 – 4660.494 on h1 time frame. On the other hand , a secured close below 4671.454 on m15 time frame, as the price may open the door for further downside and could form the fresh resistance at 4681.421 – 4682.760 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