The potential for a bullish trend in Gold remains intact on the 1-hour timeframe, as prices consistently form a stable upward structure. The zigzag movement indicating higher lows and higher highs serves as a strong signal that the upward trend is still prevailing. Furthermore, the price’s position above the Moving Average (MA) line strengthens the likelihood of trend continuation. If this momentum persists, Gold may soon test the next resistance level, with increasingly solid technical support from a combination of price patterns and trend indicators.
From a market sentiment perspective, buying interest continues to dominate as investors are inclined to take advantage of any price dips as opportunities to re-enter the market. The clear and consistent technical structure shows that selling pressure remains limited, while buying momentum is gradually strengthening. As long as prices can maintain above the nearest support zone without significant reversal, the likelihood of Gold’s ascent is expected to remain wide open as it continues its journey toward the next resistance level.
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Gold also displays bullish strength on the 15-minute timeframe, where the zigzag pattern continues to form a consistent uptrend. The Moving Average (MA) line is beginning to flatten with an upward tendency, indicating that buying momentum is starting to pick up again. This technical condition signals Gold’s readiness to continue its rise and test a critical resistance level around $4,380, supported by strong short-term trends and overall positive market sentiment.
Technical Reference: buy while above 4,287
Potential Take Profit 1: 4,365
Potential Take Profit 2: 4,380
Potential Stop Loss 1: 4,308
Potential Stop Loss 2: 4,287
