Gold maintains a short-term upward trend after breaking through the channel line and approaching the resistance level (4704 - 4710). However, gold is now facing political electronics due to geopolitical news between the United States and Iran. This has been the case, and both the US dollar and their oil have long supported gold strongly.
Determining the average plan for the multi-timeframe exponential movement (daily - two hours - one hour) gradually, where the 34 exponential moving average remains above the 89 moving average timeframe. As for the timeframe (four hours), the 34 exponential moving average remains at a minimum of the 89 exponential moving average, indicating a lack of alignment between timeframes.
Offer:
1. This is a buying re-test scenario:
The price is rejected at the resistance area (4704 - 4710), a convergence point of Fibonacci levels 200. It is currently within the range (4707 - 4690).
Since we have seen an improvement in gold and a decline to the support area (4464 - 4468) or even a change from it (4642 - 4648) before being breached by the existing structure.
2. Selling scenario:
- If the current partner structure is broken when the email breaches the insurance thresholds and closes the insurance document against damages caused by the support area (4585 - 4594), there is likely to be a shortage of that.
Gold selling limit: 4733 - 4735 stop
Loss: 4739
✅TP1: 4730
✅TP2: 4703
Gold buying limit: 4666 - 4668
Stop loss: 4662
✅TP1: 4671
✅TP2: 4690
