Forecast Based on This Analysis:
1. Short-Term Decline: Gold is expected to decline after the recent peak, with resistance forming near the recent high.
2. Support at 3,100 USD: The price is projected to test this key support level, where buyers may step in.
3. Potential Bounce: After reaching support, a slight upward reaction may occur, but further movement will depend on whether the support holds or breaks.
If the price holds above 3,100 USD, consolidation or a rebound is possible. However, if the level breaks, further downside could follow. Would you like a more detailed technical analysis?
1. Short-Term Decline: Gold is expected to decline after the recent peak, with resistance forming near the recent high.
2. Support at 3,100 USD: The price is projected to test this key support level, where buyers may step in.
3. Potential Bounce: After reaching support, a slight upward reaction may occur, but further movement will depend on whether the support holds or breaks.
If the price holds above 3,100 USD, consolidation or a rebound is possible. However, if the level breaks, further downside could follow. Would you like a more detailed technical analysis?
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.