A buying opportunity for gold in the short and medium term

Gold reached the $4667 level, which is considered a significant and strong support level, and has already begun to rebound from it with strong reversal signals.

If the current four-hour candle closes as a strong bullish candle near the high, the upward trend is expected to continue in the short and medium term.

Expected targets

If the expected rise in gold continues, the first target is the $4765 level, which represents a previous peak. If it breaks through this level and closes above it on a four-hour candle, the upward movement is expected to continue to the supply zone near $4853 as the final target for now.

Another possible scenario is that if the price falls to the demand zone near $4580, we expect to see a rise from this level, as it is currently a strong buying zone.