📊 Market Analysis:
Gold 🏆 recently broke out of a consolidation zone and moved higher. However, it is now facing resistance around 3150 📉, which could lead to a pullback before the next big move. The price has retested the breakout zone, and we could see two possible scenarios from here.
🔄 Possible Scenarios:
1️⃣ 📈 Bullish Scenario: If the price holds above the current resistance zone, it may push higher towards the 3180 - 3200 range.
2️⃣ 📉 Bearish Scenario: If the price fails to hold, it could drop back to key support levels:
🎯 First Target: 3113
🎯 Full Target: 3099
Gold 🏆 recently broke out of a consolidation zone and moved higher. However, it is now facing resistance around 3150 📉, which could lead to a pullback before the next big move. The price has retested the breakout zone, and we could see two possible scenarios from here.
🔄 Possible Scenarios:
1️⃣ 📈 Bullish Scenario: If the price holds above the current resistance zone, it may push higher towards the 3180 - 3200 range.
2️⃣ 📉 Bearish Scenario: If the price fails to hold, it could drop back to key support levels:
🎯 First Target: 3113
🎯 Full Target: 3099
Trade active
The market does respect the key resistance zone got rejected from here, we can enter in short / sell side setting our SL above the zone and take profit near the liquidity areaTrade closed: target reached
The market respected the key resistance zone and got rejected perfectly as anticipated. 📉Our setup played out well, hitting the full target at 3099! ✅
Gold massively dropped today 📉, not just because of the technicals but also due to U.S. unemployment claims 📊. This news added selling pressure, causing a sharp decline.
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Fundamentals & Technical Insights
Gold & BTC Specialists
Mastering Chart Patterns Together
Account management.
t.me/+a6yeLPhaskM4ZDI8
Gold & BTC Specialists
Mastering Chart Patterns Together
Account management.
t.me/+a6yeLPhaskM4ZDI8
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.
Fundamentals & Technical Insights
Gold & BTC Specialists
Mastering Chart Patterns Together
Account management.
t.me/+a6yeLPhaskM4ZDI8
Gold & BTC Specialists
Mastering Chart Patterns Together
Account management.
t.me/+a6yeLPhaskM4ZDI8
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.