Gold Analysis Rebound Zones and Expected Targets

After rising and achieving over 600 points in our previous analysis, gold has declined and reached the current demand zones, as we anticipated if the support levels above were broken.

These current demand zones are considered among the most important expected rebound zones for gold on the 4-hour timeframe, and are expected to push gold higher again.

Expected Targets

Currently, as we mentioned, the demand zones near the $4580 level are considered among the most important expected rebound zones, and are expected to push gold higher and target the broken support levels.

If gold rises to the broken support levels and closes above them, we may see a continuation of the upward movement, targeting the $4765 level.

An alternative scenario is that if the current demand zones are broken and closed below them, we may see a continuation of the current decline, targeting the next demand zones near the $4425 level, as shown on the chart.