From TradingView · · 50s
Gold Pullback Before HTF Supply Test
Gold faces pullback before key supply test on H4 chart.
In brief
Gold faces pullback before key supply test on H4 chart. Gold may pull back to 3,945-3,975 before targeting 4,125-4,160 supply zone. Originally reported by TradingView.
Gold Trading Activity
Gold is trading around 4,071 after volatile week recovering from 3,87x region.
Technical Structure
H4 chart shows clear CHoCH followed by bullish displacement toward 4,12x-4,14x region.
Key Zones
4,218.911, Major Upside Target 4,125-4,160, HTF Bearish Supply 4,045-4,078, Intermediate Reaction Zone 3,945-3,975, Pullback POI 3,858-3,890, Swing-Low Support.
Trading Plan
Buy after pullback through 4,045-4,078 zone with confirmation from 3,945-3,975.
Critical Levels
Stronger October jobs report increases risk of December Fed hike, pressuring gold.
Final View
Gold recovery remains constructive if 3,945-3,975 holds and buyers regain control.
Here's the gist
Gold may pull back to 3,945-3,975 before targeting 4,125-4,160 supply zone.
