On Friday evening, the spot gold price broke below the key support level of $3,000, which was in line with previous expectations. After reaching a phased high of $3,057, the market witnessed a rather significant downward movement.
However, the support at the $3,000 level was relatively strong. Although the price briefly fell below this level, it failed to stabilize effectively.
During the late trading session, the gold price rebounded technically and recovered to around $3,020.
Based on the current technical analysis and market sentiment, it is expected that the gold price will continue its weak downward trend next week, accompanied by certain corrective retracement.
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However, the support at the $3,000 level was relatively strong. Although the price briefly fell below this level, it failed to stabilize effectively.
During the late trading session, the gold price rebounded technically and recovered to around $3,020.
Based on the current technical analysis and market sentiment, it is expected that the gold price will continue its weak downward trend next week, accompanied by certain corrective retracement.
I will share trading signals every day. All the signals have been accurate for a whole month in a row. If you also need them, please click on the link below the article to obtain them.
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We share at least 3 - 5 free signals every day, with a monthly return of 300% - 500%. If you want to get accurate signals every day.Click the link to enter my Telegram channel.
t.me/+IFqHodtrHds0MDk0
t.me/+IFqHodtrHds0MDk0
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.