Gold - Rough Estimate: Downside Target:2,300 Upside Target:2,368
Recent Price Change:
Gold closed at 2,321.875 after a decrease of 38.270 (1.62%).
Volatility:
The difference between the high (2,368.765) and low (2,316.785) is 51.98, indicating a moderately volatile trading day.
Basic Prediction
Given the bearish movement (1.62% decrease) and the close price near the low end of the trading range for the day, Gold might continue to experience downward pressure in the short term.
Next Price Target
Support Level: If the bearish trend continues, the next support level might be around the recent low, approximately 2,316.785. If this level is broken, Gold could move to the next significant support level, potentially around 2,300.
Resistance Level: On the upside, if there is a reversal, Gold might first aim to reach the close price of the previous day, approximately 2,360.145, and then the high of the previous day, 2,368.765.
Rough Estimate:
Downside Target: 2,300
Upside Target: 2,368
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