Vladimir Ribakov analyzes gold's rally following the Israel geopolitical crisis, showing how it bounced from a 100% Fibonacci zone and demand area. Gold now approaches a 50% retracement level in a supply zone where pullbacks are likely before retesting broken support.
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Hello traders, how are you? Vladimir here from Home Trader Club. In this video, I would like to share with you my analysis and trading plan on gold. Ready? Let's begin. But before the charts and the full explanation what and why happens on the chart, A big thumbs up and thanks to Eightcap Broker for supporting me, my work, and my community. Uh, and you can learn all about Eightcap and their advantages with the link below this video in the description. So this video would be a little follow-up, uh, on the plan I shared with you several days ago on gold. And after gold respected— make sure you watch the video if you still didn't. Where I explain why I expect this zone that was respected, uh, to be a classical buy opportunity. Okay, make sure you watch it. You can find it on the right, uh, top corner, uh, now, um, or directly in the video in the channel. You will find this video. Make sure you watch to understand the technical analysis behind this buy. So the biggest question is What is next? So after respecting that very strong zone, quick reminder, right? After respecting this massive 100% Fibonacci zone and the massive demand area together with the oversold conditions, we got a beautiful rally on gold. The biggest question is what is coming next? Okay, so first of all, it's important to understand that this gap that happened at the beginning of the week, not classically technical, of course, uh, that happens due to all the mess going on right now in Israel and its impact it could have on the Middle East and maybe further than that, right? Maybe even bigger than that. So the gold reaction was instant. And the question is, is this rally over? So I don't think it is. However, I do think that right now what the market will try to make around this zone is to find some sort of, some sort of a stability. We enter here a beautiful and pretty strong supply area. A lot of sellers are in this zone. And if we plot Fibonacci here On this whole move, you can see that we are right next to the 50%. So I personally believe that around this zone we should see the gold slowing down unless something unexpected happens here. Not technically speaking, right? Unless something unexpected happens in the world, I would expect gold to slow down here and provide some pullbacks, maybe to retest this zone after the gap and the support, maybe further than that. But is it over? I don't think so. I think we should see some pullbacks, and then very possibly the gold will try to go and retest fully the broken support that now acts as a resistance, and the next broken support acts as a resistance, and of course all these inner zones. Look at that. Inner zone, inner zone here, right? And inner zone here. Lots of volume inside, exactly as you can see here with this KTLI indicator that shows key rejection volume profile-based levels. Okay, so after some pullbacks around this zone, I do expect the gold to continue further. Now, if you remember on the original plan, as I explained, um, based on the higher time frame, we might not be in a completed bearish correction, but at the moment, the bounce of this, uh, strong, massive supportive area is happening, and I don't think it's over. I think it has all the reasons to go and retest the next major levels that we just discussed about. Let me know, what do you think about gold? Where are we going from here? Back to $1,900, or will we see the gap closed around the $1,830, maybe even lower than that? Share with us in the comment section below this video. And I would like to invite you to our trading family, the Home Trader Club, where you will get your access to our full trading courses real-time education, real-time trading opportunities, access to the community, and so much more. Follow us with the link below this video in the description. Best to you and yours. Thanks for watching this video, and I'll see you soon with more. Bye for now and good trading.
