Gold rejection based on key support and resistance levels
Gold rejection based on key support and resistance levels. Here's a breakdown of what you're saying:
Support Levels: 2905/2890 – You believe that the price of gold is expected to bounce or hold at these levels, potentially leading to a reversal.
Resistance Zone: 2825/2928 – This could be the range where gold may face selling pressure or struggle to break through, suggesting that it might not exceed these levels in the near term.
If this price action plays out as anticipated, it suggests a consolidation or pullback scenario, possibly with the price fluctuating between these key levels until further market.
Support Levels: 2905/2890 – You believe that the price of gold is expected to bounce or hold at these levels, potentially leading to a reversal.
Resistance Zone: 2825/2928 – This could be the range where gold may face selling pressure or struggle to break through, suggesting that it might not exceed these levels in the near term.
If this price action plays out as anticipated, it suggests a consolidation or pullback scenario, possibly with the price fluctuating between these key levels until further market.
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Related publications
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.