GOLD BUY ZONE AROUND 2650 TARGET 2670
1. Support Zone Confirmation: $2,650 is a critical level near the 23.6% Fibonacci retracement, which has acted as support in recent sessions10 12. A bounce from this area would validate the entry point.
2. Resistance at $2,670: This level coincides with minor resistance on intraday charts and is a modest profit target within the current consolidation zone. It also lies below the next significant resistance near $2,690, reducing the risk of a reversal before profit-taking.
3. Risk-Reward Ratio: To maintain a favorable risk-reward ratio, ensure a proper stop-loss, ideally below $2,640.
Breakout Potential: If gold breaks above $2,670 with strong volume, consider trailing your stop-loss to capture additional upside. FOR MORE INFORMATION CONTACT US
2. Resistance at $2,670: This level coincides with minor resistance on intraday charts and is a modest profit target within the current consolidation zone. It also lies below the next significant resistance near $2,690, reducing the risk of a reversal before profit-taking.
3. Risk-Reward Ratio: To maintain a favorable risk-reward ratio, ensure a proper stop-loss, ideally below $2,640.
Breakout Potential: If gold breaks above $2,670 with strong volume, consider trailing your stop-loss to capture additional upside. FOR MORE INFORMATION CONTACT US
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If you want to receive more Analysis signals, please join our Telegram channel. t.me/+JLFlD0eg3LFjNjU8
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.