Best Buying and Selling Zones for Gold

Gold is moving in a strong upward trend after breaking out of a sideways movement that represented accumulation.

Currently, gold is expected to continue trading within the ascending price channel and target the supply zones above.

Reversal Zones

If the upward trend continues, we are expected to see a visit to the supply zones, which are currently the most important selling zones. From there, we might see a corrective pullback to gold that could target the lower boundary of the ascending price channel.

In the event of a pullback, the flip zone near 4449, which coincides with the lower boundary of the ascending channel, is considered the best buying zone. We might see a return to the upward trend from this level, especially if any reversal signals appear on the same timeframe or the hourly chart.

Even if the ascending channel is broken, we might see a rise from the demand zones near 4366, which are currently considered one of the most important buying zones.