Insights into Gold’s Expected Near-Term Trajectory

Gold has risen from the daily demand zones previously highlighted, reaching significant supply zones on the one-hour timeframe.

Strong movements are anticipated for gold in the near term, preceding its projected long-term upward trend.

Expected Scenarios

Currently, there are several potential scenarios for gold’s movement in the near term:

The first scenario involves a decline, which would require a break below the current uptrend, confirmed by a strong bearish candle closing beneath it.

In this case, the price is expected to retreat toward the demand zones from which it previously rallied.

The second scenario entails a continuation of the upward trend toward the next set of supply zones; this would require a breakout above the current supply zones, confirmed by a strong bullish candle closing above them.