H-1 SCENARIO [TRUE SMC STRUCTURE MAPPING]
Updated
gold is showing key levels that may signal its next move. Currently, minor resistance is observed around $2,775, aligned with a downward trendline that could trigger selling pressure if prices approach this level. A failure to break above this could lead to a pullback, potentially driving prices down to the support level around $2,732. Should gold breach the $2,575 level, it may see additional bullish momentum toward recent highs.
The primary support range to monitor on this timeframe is around $2,622, with a critical psychological support near $2,600 if further declines occur. A strong move above resistance, particularly with positive catalysts such as dovish Fed expectations, could pave the way for further gains
The primary support range to monitor on this timeframe is around $2,622, with a critical psychological support near $2,600 if further declines occur. A strong move above resistance, particularly with positive catalysts such as dovish Fed expectations, could pave the way for further gains
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running 130+pips
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