Gold is trading around $4,473 with a bullish bias, and we could expect it to continue rising over the next few hours until it reaches the 61.8% Fibonacci level around $4,535, or it could encounter strong resistance around the 6/8 Murray level at $4,531.

Since the opening of Thursday's Asian session, gold has been rising, and this could be seen as an opportunity to continue buying in the coming hours, as the instrument could reach the psychological level of $4,500. Even if it breaks above this zone, it could face strong resistance, so we must remain vigilant because a technical correction could occur.

Gold could come under downward pressure over the next few days if the price approaches the 6/8 Murray level. A move below this zone could be seen as a good opportunity to sell. If you, as a trader, are selling gold, you should be aware that the price could reach $4,531, and if it fails to break above this zone, it will be a good point to open short positions.

The outlook for the coming days is that gold will trade within a price range between the 6/8 Murray level and the 5/8 Murray level. Therefore, a move below the 61.8% Fibonacci level will be a strong bearish signal; hence, a move above the 23.6% Fibonacci level could be a signal to resume long positions.

The Eagle indicator is showing a bullish signal, so any pullback in gold over the next few days could be seen as a signal to continue buying. The target is $4,531, and if gold breaks above this level, it could reach the 8/8 Murray level around $4,687.