ArmanShabanTrading | Gold Rally Continues – Can It Push Toward $4K?

[Arman Shaban]

By analyzing the gold chart on the 1-hour timeframe, we can see that after reaching the $3,784 supply zone, the price faced selling pressure and corrected down to $3,754. But with the start of the new week, gold continued its rally, hitting a new high at $3,831.

As I mentioned in previous analyses, gold isn’t far from the $4,000 mark. With the current momentum and no structural change in the market, we should assume the bullish trend will continue. The next upside targets are $3,840, $3,860, and $3,880.

Key demand zones are $3,804–$3,806, $3,799–$3,801, and $3,784–$3,791.

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Best Regards , Arman Shaban

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