✅ On Friday, gold rose sharply. We had already advised members to go long around the 3748-3752 area, and the price later climbed to as high as 3783. However, during the second half of the U.S. session, gold pulled back without breaking a new high, indicating weakening bullish momentum. The key question now is whether gold still has the strength to refresh its all-time highs or if this was just a temporary spike. Next week will be a critical observation period.
✅ 4-Hour Chart: Gold has broken out of the recent consolidation range, extending its rally toward the historical high near 3791. The 21-period SMA around 3750 provides strong support. If the price holds below 3750, the short-term structure will turn bearish, possibly falling back into the previous range with downside targets at 3720 and 3700. Conversely, a clear breakout above the 3780-3791 resistance zone could unleash new bullish momentum and open the door to further highs.
✅ 1-Hour Chart: Gold is currently trading in a narrow range, with short-term moving averages gradually turning upward. However, if the rebound momentum fades, a potential double-top could form around 3780-3783, leading to short-term pressure. Overall, unless major news triggers a move, gold will likely remain range-bound early next week. Watch 3780 as resistance and 3720 as support.
🔴 Resistance Levels: 3780-3785 / 3791-3795
🟢 Support Levels: 3745-3755 / 3730-3720
✅ Trading Strategy Reference:
🔰 If gold holds above the 3745-3755 support zone, consider light long positions with targets at 3780-3785.
🔰 If gold breaks below 3745-3755, a 4-hour double-top will likely be confirmed. In this case, consider light short positions targeting 3730-3720.
🔰 If gold faces resistance at 3780-3785, short entries can be considered with targets back down to 3745-3730.
🔥Trading Reminder: Trading strategies are time-sensitive, and market conditions can change rapidly. Please adjust your trading plan based on real-time market conditions.
