GOLD / Bearish by stability under 2526 ATH
Updated
Gold Futures Technical Analysis: Bearish Momentum Likely Unless Key Resistance is Broken
Current Outlook: Gold futures have once again reached their all-time high (ATH). However, as long as the price remains below 2526, it is expected to stabilize within a bearish trend, potentially declining to 2516 and 2500. A drop below 2500 would likely extend the bearish trend further towards 2475.
On the other hand, a bullish trend may emerge if the price breaks above 2526 and a 4-hour candle closes above this level, setting the stage for a rise towards 2543.
Key Levels:
Pivot Line: 2526
Resistance Levels: 2543, 2557, 2566
Support Levels: 2516, 2509, 2500
Expected Trading Range for Today: The price will fluctuate between 2500 and 2535.
Trend: Bearish bias, unless a breakout above 2526 occurs.
Current Outlook: Gold futures have once again reached their all-time high (ATH). However, as long as the price remains below 2526, it is expected to stabilize within a bearish trend, potentially declining to 2516 and 2500. A drop below 2500 would likely extend the bearish trend further towards 2475.
On the other hand, a bullish trend may emerge if the price breaks above 2526 and a 4-hour candle closes above this level, setting the stage for a rise towards 2543.
Key Levels:
Pivot Line: 2526
Resistance Levels: 2543, 2557, 2566
Support Levels: 2516, 2509, 2500
Expected Trading Range for Today: The price will fluctuate between 2500 and 2535.
Trend: Bearish bias, unless a breakout above 2526 occurs.
Trade closed: target reached
GOLD
Hit the first target of about 150 pip
now should stabilize under 2516 by closing 1h candle to get 2509 and 2500
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~6 analyses per day. With a clear entry point
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