If gold breaches the 2563 support level, it may signal increased selling pressure, opening the possibility for a more downward movement toward the next key support area around 2545.
However, if buyers step in and the price holds above the 2563 support, it could lead to a rebound, with potential upside movement toward the 2588 level. Traders will be watching to see if the support at 2563 can hold; if it does, the market may shift its focus to a possible rally.
However, if buyers step in and the price holds above the 2563 support, it could lead to a rebound, with potential upside movement toward the 2588 level. Traders will be watching to see if the support at 2563 can hold; if it does, the market may shift its focus to a possible rally.
Trade closed: target reached
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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.