Gold on high time frame

11月12日

Hello traders,

As you can see on the chart, there are two scenarios for gold:

1. This level is critical on the daily timeframe. If the price closes below $2,550 on the higher timeframe, the next level could be $2,350.

2. Conversely, if the price closes above $2,630 in the 4-hour timeframe, it may continue to rise and reach a new higher high.

Currently, gold is strongly bullish on the higher timeframe, but the price is in a correction phase.

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Feel free to ask if you need further adjustments or if there are specific areas you'd like me to focus on!