Technical Analysis of Gold – 4-Hour Time Frame

Technically, gold has broken through the downward channel it was trading within, indicating a return of positive momentum. Currently, the price faces strong resistance between the $3,360 and $3,370 levels, and some selling pressure appears to be emerging in this area.

• If gold fails to break above this resistance, we may witness a decline towards the $3,335–$3,345 support area , which is considered a pivotal area for maintaining the uptrend.
• If this range is broken, the decline could extend to lower levels near $3,320–$3,325 , which represent previous support and a previous top from the falling wedge pattern that was broken earlier.

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