GOLD Consolidation with Bearish Bias Below Key Resistance Levels
Updated
Gold Futures Technical Analysis
Current Outlook: The price has a consolidation between 2508 and 2492 till breaking
The downward momentum continues toward 2475, as long as the price remains below 2526 and 2509.
Especially if it can stabilized under 2501
If the price remains above 2508, the bullish trend is expected to persist, targeting 2516 and 2526.
Key Levels:
Pivot Line: 2500
Resistance Levels: 2509, 2516, 2526
Support Levels: 2492, 2484, 2475
Expected Trading Range Today: The price fluctuates between 2475 and 2516.
Trend: Bearish side as long as trades under 2508.
Current Outlook: The price has a consolidation between 2508 and 2492 till breaking
The downward momentum continues toward 2475, as long as the price remains below 2526 and 2509.
Especially if it can stabilized under 2501
If the price remains above 2508, the bullish trend is expected to persist, targeting 2516 and 2526.
Key Levels:
Pivot Line: 2500
Resistance Levels: 2509, 2516, 2526
Support Levels: 2492, 2484, 2475
Expected Trading Range Today: The price fluctuates between 2475 and 2516.
Trend: Bearish side as long as trades under 2508.
Trade closed: target reached
#GOLD
Update
Hit The third target +250 pip ✅✅
the price reached the support of 2475, crossing this level will continue the downtrend toward 2466.
however, above 2475 will move between this level and 2492
So you can close your position at profit, or if you want to hold, set your sl at entry price.
Timeframe 4h, 1h
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