The movements of Gold on the 1-hour timeframe are still clearly in a maintained upward trajectory, indicated by a consistent price structure forming higher highs and higher lows. This pattern reflects the unwavering dominance of buyers, with selling pressure failing to disrupt the main trend direction. As long as this structure holds, the possibility for Gold to continue strengthening in the short term remains open.
Technical support for this bullish trend can be seen through Moving Averages that are consistently pointing upward, signaling a healthy market condition. The ZigZag indicator continues to create a series of organized price increases, while the MACD remains in positive territory, indicating a solid bullish momentum. This combination of signals reinforces Gold’s potential to continue its upward movement, provided there are no significant signs of reversal.
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On the intraday front, the 15-minute chart shows that Gold continues to progress within a bullish channel, reflecting consistent buying sentiment in the short term. The upward direction of the Moving Average, along with the higher high–higher low structure in the ZigZag, supports the likelihood of further gains, thereby creating room for Gold to test the resistance level of $4,535 in the near future.
Technical References: buy as long as above 4,452
Potential Take Profit 1: 4,520
Potential Take Profit 2: 4,535
Potential Stop Loss 1: 4,470
Potential Stop Loss 2: 4,452
