FX.co ★ Fractal analysis for GOLD on June 4

Forecast for June 4:

Analytical review on the scale of H1:

For Gold, the key key levels on the scale of H1 are: 1317.09, 1308.97, 1305.28, 1298.46, 1287.67 and 1281.60. Here, we considered the upward structure of May 21 as a medium-term for initial conditions. The continuation of the movement towards the top is expected after the breakdown of 1298.46. In this case, the first target is 1305.28. In the area of 1305.28 - 1308.97 is the consolidation of the price. For the potential value for the top, consider the level of 1317.09. Upon reaching this level, we expect a pullback to the bottom.

The level of 1287.70 is the key support for the top. Its breakdown will lead to the development of the downward trend. Here, the target is 1281.60.

The main trend is the medium-term upward structure of May 21.

Trading recommendations:

Buy: 1298.60 Take profit: 1305.00

Buy 1309.00 Take profit: 1317.00

Sell: 1287.60 Take profit: 1283.00

Sell: Take profit: