📊 Gold Market Analysis
Key levels and zones identified for upcoming price action:
🔴 Resistance Zone:
• Price faces a strong resistance level around 2,788.266, highlighted by the red zone. This level could act as a potential reversal or breakout point.
🟢 Support Zones:
• 2744.4–2764.1: A crucial near-term support level. Price action may retest this zone before showing significant movement.
• 2729–2733: Another strong support zone that may provide a solid base for bullish momentum.
• 2716–2719: A deeper support zone that could indicate oversold conditions if the price reaches here.
📈 Potential Scenarios:
1️⃣ If the price breaks above 2,771.653, it could retest 2,787.604 and potentially target 2,788.266.
2️⃣ If the price retests the 2744.4–2764.1 zone and holds, a reversal towards 2,771.653 is likely.
3️⃣ In case of a stronger correction, the 2729–2733 zone could come into play as a major support level.
Stay vigilant for price action at these key zones to plan your next trade effectively!
#GoldTrading #PriceAction #ForexAnalysis #CFDTrading #SupportAndResistance #GoldMarket
Key levels and zones identified for upcoming price action:
🔴 Resistance Zone:
• Price faces a strong resistance level around 2,788.266, highlighted by the red zone. This level could act as a potential reversal or breakout point.
🟢 Support Zones:
• 2744.4–2764.1: A crucial near-term support level. Price action may retest this zone before showing significant movement.
• 2729–2733: Another strong support zone that may provide a solid base for bullish momentum.
• 2716–2719: A deeper support zone that could indicate oversold conditions if the price reaches here.
📈 Potential Scenarios:
1️⃣ If the price breaks above 2,771.653, it could retest 2,787.604 and potentially target 2,788.266.
2️⃣ If the price retests the 2744.4–2764.1 zone and holds, a reversal towards 2,771.653 is likely.
3️⃣ In case of a stronger correction, the 2729–2733 zone could come into play as a major support level.
Stay vigilant for price action at these key zones to plan your next trade effectively!
#GoldTrading #PriceAction #ForexAnalysis #CFDTrading #SupportAndResistance #GoldMarket
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
fxforever
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.