Probability Assessment:
Bullish Scenario:
Hourly Chart (Short-Term): High probability as gold has already achieved the 1974-1975 Zone. Staying above 1966-1967 suggests a continued upward trend.
2-Hour Chart (Short-Term): Moderate probability. Bullish sentiment is evident, but a cautious approach is recommended, especially if the price stays below 1970.
3-Hour Chart (Short-Term): Moderate probability. Potential for swings or a double bottom, but entry conditions need careful monitoring.
4-Hour Chart (Mid-Term): Moderate probability. Supportive of a reversal with higher lows, but resistance at 1984-1985 requires attention.
Bearish Scenario:
Hourly Chart (Short-Term): Low probability unless the price stays below 1970, indicating potential bearish momentum.
2-Hour Chart (Short-Term): Moderate probability. Red candle signals possible bearish pressure, but confirmation is needed by staying below 1970.
3-Hour Chart (Short-Term): Moderate probability. Caution advised if staying below 1968, indicating a potential drop to 1964-1960.
4-Hour Chart (Mid-Term): Low probability. The chart is supportive of a reversal, making a bearish scenario less likely.
Overall Outlook:
Short-Term (1-3 days): A slightly bullish bias, but caution is warranted.
Mid-Term (3-7 days): Neutral to slightly bullish, with attention to resistance at 1984-1985.
Long-Term (7+ days): Neutral, pending further analysis.
XAU/USD (GOLD)
Disclaimer: Probability assessments are based on technical analysis and historical patterns, subject to market changes. Trading involves risk, and decisions should align with personal risk tolerance and strategy. This analysis is not financial advice; always conduct thorough research before making trading decisions.
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