Market Overview:
Gold is at the end of its buyers' movement; professional traders are looking for signs of weakness to enter short positions.
The static supply level at $2,735–$2,770 is active, but the dynamic supply ceiling has yet to form.
Short-Term Forecast:
$2,770–$2,800: Heavy supply is expected, which is crucial for the continuation of the upward trend.
Key Level: As long as prices remain above $2,760, buyers maintain control. If this level is breached, prices could drop to $2,700–$2,730 in the short term.
Medium-Term Forecast:
Breaking the demand at $2,730 and $2,690 could accelerate a price drop to $2,530.
$2,500–$2,530: A key level for medium-term buyers, with a strong likelihood of renewed demand.
Trading Recommendations:
Short Position Entry Range
Key Levels to Monitor:
$2,755–$2,760: Crucial for observing buyer weakness.
$2,690–$2,730: Determines new demand or supply trends.
$2,500–$2,530: Attractive for medium-term buyers, with potential for strong demand formation.
Summary: The market remains under buyers' control, but increased selling pressure at current levels indicates a critical phase. Risk management and precise analysis of price patterns are essential to capitalize on market opportunities.
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.
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.