🔹 Market Sentiment: Gold appears bearish today, but key technical signals indicate a potential reversal.
🔹 Technical Outlook:
📊 RSI (14): Oversold, forming a bullish divergence, signaling possible buying interest.
📉 Support Zone: $2853 – $2845 (Potential bearish continuation level).
📈 Resistance Levels: $2865 / $2878 (If bullish momentum builds).
🔍 Price Action: Monitoring for reversal confirmation via candlestick patterns (bullish engulfing, pin bars).
📌 Trading Plan:
✅ Wait for bullish confirmation near $2845–$2853.
✅ If price holds support, consider long positions targeting $2865–$2878.
✅ If breakdown occurs, next support to watch: $2830.
✅ Always manage risk with stop-loss placement & position sizing.
🔔 Stay Alert! High-impact news can shift momentum quickly. 🚀
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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.