Technical Analysis of Gold and Medium-Term Movement Forecast

Gold continues to trade within the demand zones we previously highlighted, and has already achieved its first target.

The outlook for gold remains bullish, especially as the current sideways movement indicates strong accumulation.

Expected Targets

Currently, gold needs to break through the recently formed supply zones, which have become a strong barrier to further gains.

If the supply zones are broken and closed above them with a strong bullish candle with clear volume, gold is expected to continue its upward movement towards $4190, then $4280, and potentially even reach the higher supply zones, which are considered one of the most important selling areas.

Overall, the forecast for gold is still bullish, so it is advisable to look for more buying opportunities.