GOLD / Consolidation and Breakout Levels Movement
Gold Technical Analysis
The price has dropped and stabilized within the bearish trend. Today, it is likely to attempt to reach 2665. A confirmed 4-hour candle close below this level could lead to a decline toward 2653. Alternatively, stability above 2665 may push the price toward 2678.
Gold is expected to consolidate between 2665 and 2678 until a breakout occurs.
A breakout above 2678 will signal a bullish trend toward 2692.
A breakout below 2665 will indicate a bearish trend targeting 2653 and 2625.
Above 2678 will be bullish to 2692, and Below 2665 will touch 2653 and 2625
Key Levels:
Pivot Point: 2678
Resistance Levels: 2691, 2706, 2720
Support Levels: 2665, 2653, 2625
Trend Outlook: Bearish Volatile
The price has dropped and stabilized within the bearish trend. Today, it is likely to attempt to reach 2665. A confirmed 4-hour candle close below this level could lead to a decline toward 2653. Alternatively, stability above 2665 may push the price toward 2678.
Gold is expected to consolidate between 2665 and 2678 until a breakout occurs.
A breakout above 2678 will signal a bullish trend toward 2692.
A breakout below 2665 will indicate a bearish trend targeting 2653 and 2625.
Above 2678 will be bullish to 2692, and Below 2665 will touch 2653 and 2625
Key Levels:
Pivot Point: 2678
Resistance Levels: 2691, 2706, 2720
Support Levels: 2665, 2653, 2625
Trend Outlook: Bearish Volatile
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