GOLD / Testing Resistance and Stabilizing in Bearish Trend
Gold Technical Analysis
The price has dropped from its resistance level at $2,665 and is now attempting to stabilize within a bearish trend, potentially targeting $2,636. A move below $2,636 would likely extend the decline toward $2,623.
Conversely, a break above $2,665 would signal a shift to a bullish trend, with potential targets at $2,678 and higher.
Key Levels
Pivot Point: 2653
Resistance Levels: 2665, 2678, 2690
Support Levels: 2636, 2623, 2603
Trend Outlook
Bullish Trend: Above $2,665
Bearish Trend: While Below $2,653
The price has dropped from its resistance level at $2,665 and is now attempting to stabilize within a bearish trend, potentially targeting $2,636. A move below $2,636 would likely extend the decline toward $2,623.
Conversely, a break above $2,665 would signal a shift to a bullish trend, with potential targets at $2,678 and higher.
Key Levels
Pivot Point: 2653
Resistance Levels: 2665, 2678, 2690
Support Levels: 2636, 2623, 2603
Trend Outlook
Bullish Trend: Above $2,665
Bearish Trend: While Below $2,653
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