Kingprotrader: Gold Spot (USD) 1H: Bearish Momentum
1. **Current Price & Movement:**
- Gold is trading at **2,861.880 USD**, down **0.53%** (-15.290) in the past hour.
- Short-term bearish momentum is evident, but key support/resistance levels should be monitored for trend confirmation.
2. **EMA (200, close) Analysis:**
- The listed EMA values (2,954.172 to 2,861.880) are descending, indicating a **downtrend** over the 200-period horizon.
- The current price aligns with the **200 EMA (2,861.880)**, suggesting this level is acting as **dynamic support/resistance**. A sustained break below could signal further downside, while a rebound might hint at a trend reversal.
3. **Key Levels:**
- **Immediate Support**: **2,825.000** (critical level to watch; a breach could accelerate selling pressure).
- **Upper Resistance Levels**: 2,900.000 and 2,921.335 (potential targets if price reverses upward).
5. **Conclusion:**
- **Bearish bias** dominates due to the descending EMA structure and recent price decline.
- Monitor the **200 EMA (2,861.880)** and Risk management (stop-losses) is critical due to volatility.
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My telegram channel:
t.me/tamesbulltarder139
💎
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned message in telegram for more information.
t.me/tamesbulltarder139
💎
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned message in telegram for more information.
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.