Gold (XAUUSD) is currently ranging between clear supply and demand zones on the 4-hour timeframe.
Supply Zone: Located near the upper boundary of the blue sloping pattern, it represents strong resistance from which we have seen several previous downward bounces.
Demand Zone: Found at the lower boundary of the pattern, this is a key support area from which the price has bounced several times, increasing its strength.
As long as gold trades within this range, the following scenarios remain:
- As we approach the supply zone, we will watch for selling opportunities with the downward trend on smaller timeframes.
- As we return to the demand zone, we will watch for buying opportunities with the upward trend on smaller timeframes.$BTC
BTC
67,432.99
+1.34%