On the daily timeframe, gold is still within a consolidation range of 2880 - 2930. Special attention should be given to when this range is broken. Yesterday’s upward movement indicates strong bullish momentum.
Key Levels to Watch:
2956-2960: ATH resistance zone
2927-2930: Upper boundary of the consolidation range
2922: Key intraday resistance
2915-2917: Chip accumulation zone
2907: Short-term support
2895: Secondary intraday support
2880: Key intraday support
Short-Term Trading Strategy:
For SELL: Consider entering if the price breaks below 2914. Watch 2910 for potential support; if the decline continues, keep an eye on 2907, 2903, and 2900.
For BUY: Consider entering if the price stabilizes above 2918. Watch 2920 for confirmation; if the price continues to rise, monitor 2922, 2925, and 2928.
Disclaimer: This is my personal opinion and not financial advice. Please manage your risk accordingly.
Key Levels to Watch:
2956-2960: ATH resistance zone
2927-2930: Upper boundary of the consolidation range
2922: Key intraday resistance
2915-2917: Chip accumulation zone
2907: Short-term support
2895: Secondary intraday support
2880: Key intraday support
Short-Term Trading Strategy:
For SELL: Consider entering if the price breaks below 2914. Watch 2910 for potential support; if the decline continues, keep an eye on 2907, 2903, and 2900.
For BUY: Consider entering if the price stabilizes above 2918. Watch 2920 for confirmation; if the price continues to rise, monitor 2922, 2925, and 2928.
Disclaimer: This is my personal opinion and not financial advice. Please manage your risk accordingly.
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.
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.