The four-hour gold chart shows an uptrend.
The price is above the Ichimoku cloud, which is a confirmation of bullish momentum. Therefore, the market is expected to reach the first resistance.
Key levels
The first resistance is at $1984.32, which corresponds to the 127.20% Fibonacci level.
The second resistance is formed at $2006.86.
Intermediate support is located at 1971.03 and can lead to a bullish return of the market.
The first support level is at 1949.45, which indicates a strong support zone.
The price is above the Ichimoku cloud, which is a confirmation of bullish momentum. Therefore, the market is expected to reach the first resistance.
Key levels
The first resistance is at $1984.32, which corresponds to the 127.20% Fibonacci level.
The second resistance is formed at $2006.86.
Intermediate support is located at 1971.03 and can lead to a bullish return of the market.
The first support level is at 1949.45, which indicates a strong support zone.