#GOLD ON THE EDGE OF A DECLINE??(ANALYSIS OF POSSIBLE SCENARIOS)

Gold Analysis Summary 📊
4-Hour Time Frame ⏰

Gold might experience a decline 📉. Given that it has already hit its monthly growth targets and reached the top of the bullish channel in the daily time frame, along with the potential confirmation of MACD divergence in the 4-hour and daily time frames, a drop is possible.

However, this decline could be complex, and I will explain the possible scenarios:

Scenario 1:
If the 4-hour MACD divergence in this area is confirmed (with a MACD cross), a decline will begin, potentially extending down to the weekly support at 2598.295 🔻.

At this support, two outcomes are possible:

More likely outcome: Gold could form a bottom and rise towards the resistance levels of 2649.905 and later 2677.158, forming a top at these resistances 🏔️. In this case, we could see the formation of an rising wedge pattern, which could trigger the main decline 🚨 (final targets for the main decline will be mentioned below).

Second outcome: If the weekly support is broken, no rise will occur, and the decline will continue towards the main bearish targets 📉.
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Scenario 2:
If the 4-hour MACD divergence is not confirmed and we see a rise towards the resistances of 2649.905 and 2677.158, as long as the MACD divergence remains intact (meaning no higher high is formed), there is still a chance for Gold to form a top at one of these levels and start its main decline 🔄.

But if the divergence breaks (with a higher high in MACD), the potential for forming a top at this range will be invalidated, and Gold could rise towards the targets of 2729.181 - 2736.598, and even 3100 📈.
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Main Targets for the Decline:
🎯 Target 1: 2568.650 - 2570.979
🎯 Target 2: 2519.287
🎯 Target 3: 2466.520
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Gold Analysis Summary 📊
15-Minute Time Frame ⏰

With the formation of an rising wedge pattern in the 15-minute time frame and the potential confirmation of MACD divergence, there is a possibility of forming a top in this area. But how?

Since Gold is currently trading above its daily support level (2625.796), a few scenarios could trigger the decline:

Scenario 1:
Reaching the first resistance zone (2637.751 - 2640.180) and starting a decline based on the formation of a double top pattern 📉.

Scenario 2:
A rise to the second resistance zone (2646.803 - 2649.905) and a decline based on the confirmation of 15-minute MACD divergence 🔄.

Scenario 3:
Starting a decline without reaching the two mentioned resistance levels by breaking the daily support (2625.796) and closing the 15-minute candle below 2622.680 🔻.

Note:
If the 15-minute MACD divergence fails (with a higher high in MACD compared to the previous top), there is potential for continued growth towards 2677.158 before the decline 📈.