Gold rebounded from the 1 (100%) Support Arc on the 4h chart after failing to break below it. Arc Cycle Analysis reads the move as bullish, with 4,227 as the target and a sustained close below 4,105 as the invalidation level.
Gold bounced off support on its 4h chart. Based on Arc Cycle Analysis, Gold Spot / U.S. Dollar rebounded from the 1 (100%) Support Arc within the current Arc Cycle after failing to break below it.
The rebound confirms a bullish reaction and opens the potential for continued movement higher, toward 4,227, the analysis says. It also describes the arc as continuing to provide strong support within that cycle.
Continued bullish momentum could drive price toward 4,227, which the analysis lists as its primary target zone.
However, the bullish case has a limit. A sustained 4h close below 4,105 would invalidate it and could reopen the path toward the next Support Arc.
Source: Investing.com
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