Bearish engulfing candle
The potential bearish engulfing candle here serves as a confirmation signal for the bears.
The key resistance level to watch is 2660, which acted as support during gold's downtrend on November 7. This support level has now turned into resistance and could act as a barrier to further declines. When the price rebounds to this level, it presents a potential entry opportunity for bears.
Next support zone: 2500 - 2530.
The key resistance level to watch is 2660, which acted as support during gold's downtrend on November 7. This support level has now turned into resistance and could act as a barrier to further declines. When the price rebounds to this level, it presents a potential entry opportunity for bears.
Next support zone: 2500 - 2530.
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.