GOLD

Gold spent the past week in a zone of uncertainty, failing to break through the weekly support level at 2600.22 or to negate the daily golden cross. Similarly, it could not escape the pull of the daily cloud at 2630.50. By the week's close, gold had returned below a wide resistance zone (2630.50 – 2662.95), encompassing the daily Ichimoku cloud, the key levels of the daily Ichimoku cross, and the weekly short-term trend.

A consolidation above this resistance zone would allow bullish players to explore new targets, such as 2725.57 (the nearest maximum extremum) and 2789.61 – 2800.00 (the record high and the subsequent psychological level). However, if bullish attempts fail and bearish sentiment strengthens, the market will likely shift its focus to downside targets. These targets include the weekly Ichimoku golden cross levels (2600.22 – 2553.68 – 2483.24) and the monthly short-term trend at 2509.30.

It is important to note that weekly levels may be adjusted when the market opens.

H4 – H1

In the lower timeframes, bearish players fell short of achieving a 100% fulfillment of the target for breaking through the H4 Ichimoku cloud before the current corrective rise. Therefore, the H4 target can generally be considered fulfilled. Currently, the market is testing the most critical level on the lower timeframes: the weekly long-term trend at 2630.98. Control of this level will determine market sentiment, so working above 2630.98 will support the trend to bearish players, and a rebound and further decline would reinforce bearish sentiment. Key intraday targets will be determined by classic Pivot Points, with updated levels and positioning available, which you will need to focus on once trading begins.

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Technical Analysis Components:

• Higher Timeframes: Ichimoku Kinko Hyo (9.26.52) + Fibonacci Kijun levels
• H1: Classic Pivot Points + Moving Average 120 (weekly long-term trend)