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💡 GOLD (XAUUSD) Daily, H4, H1 Forecasts, Technical Analysis & Trading Ideas

💡 Daily Timeframe:
🔻As forecasted by 4CastMachine AI last week, gold started its decline when it hit the red channel line.
🔻This decline will continue, but the support area of ​​2955 could trigger a rebound.
🔻At the support area of ​​2955, the up trend line will also prevent further declines.
🔻If this area is broken, the price will decline to the support area of ​​2789.95.
🔻This area, which was previously a major resistance, will become a major support, creating a good buying opportunity.
🔻So, given the long-term uptrend, we can use this area as a long-term BUY ZONE.

💡 H4 Timeframe:
🔻The price is in a Corrective wave.
🔻Given the break of the ascending trend line in the RSI, the corrective wave is expected to continue to a depth of 2955.

💡 H1 Timeframe:
🔻A Head and Shoulder Reversal Pattern has formed and the neckline has also been broken. Price is touching the neckline again. It is very likely that the downward wave will start from this area.
🔻3027.83 support is broken now. It will act as a Resistance now!

Forecast:
1- Correction wave toward the Sell Zone
2- Another Downward Impulse wave toward Lower TPs

💡 All Technical Analysis & Trading Ideas are generated by #4CastMachine AI software.

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