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07.05.2025 05:49 PM
Early in the American session, gold is trading around 3,382, rebounding after reaching a low of 3,359 during the opening session.
A strong technical rebound suggests a rally in the coming hours. Gold has strong support around the 7/8 Murray level, as can be seen on the H4 chart.
Therefore, we believe any pullback above this area will be viewed as an opportunity to buy gold, targeting 3,437 and possibly even reaching +1/8 Murray level at 3,515.
Our trading plan for the coming hours is to buy gold above 3,360, with targets at 3,401, 3,420, and finally 3,437.
Gold has left a GAP around 3,427 and is believed to return to these levels in the coming days.
Therefore, we will look for buying opportunities as long as the price remains above the 21SMA at 3,335.
The eagle indicator is showing a positive signal, suggesting that gold could rise in the coming days. We will therefore look for buying opportunities on any pullback.
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