GOLD/ Decline again
Updated
Spot gold edged higher on Monday, supported by short covering after a weekly loss on Friday due to the Federal Reserve’s cautious stance on rate cuts in the upcoming year.
Generally, the direction is a downtrend
Uptrend Side: For a bullish trend to be established, a breakout above the 2640–2664 zone must be confirmed by a daily candle closing above this level.
Downtrend Side: the bearish scenario will begin below 2640, However, before this decline, a corrective movement toward 2640 is expected. Following this correction, the price is anticipated to drop, initially reaching 2606. A break below 2606 would likely lead to a further decline toward 2566.
Tendency Keys: 2606
Generally, the direction is a downtrend
Uptrend Side: For a bullish trend to be established, a breakout above the 2640–2664 zone must be confirmed by a daily candle closing above this level.
Downtrend Side: the bearish scenario will begin below 2640, However, before this decline, a corrective movement toward 2640 is expected. Following this correction, the price is anticipated to drop, initially reaching 2606. A break below 2606 would likely lead to a further decline toward 2566.
Tendency Keys: 2606
Trade active
fell about +180 pip profit, so now the price trades around the support of 2606, we should be waiting to break it.
about 4 Analysis per day.
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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