Menu Close

Daily GOLD Forecast – 4.12.2023

The recent price action aligns seamlessly with my previous analysis. The price has encountered a formidable resistance zone spanning from 2100 to 2120. Notably, the market exhibited a retreat from this level, marked by a substantial spike. On the 4-hour timeframe, there are indications of a potential false breakout from the resistance, highlighted by a significant long-tailed bearish bar. I anticipate a retest of the 2000 support level, especially considering the breach below the key resistance range of 2060 - 2070. My target is a support level situated around 2007.45.