GOLD Technical Analysis
There are two significant obstacles ahead that indicate gold is likely to rise again to its highest levels: the 2908 and 2880 levels.
The recent decline in gold below the last resistance at 2939 is a temporary corrective movement, and the price is attempting to break through this strong resistance once again.
We should wait for a decisive breakout, confirmed by a 4-hour candle closing above 2939, to signal further upward movement toward the target of 2970.
However, as long as the price remains below 2939, it is likely to test the 2908 level. If the bearish trend continues, the price may extend its decline to 2880.
There are two significant obstacles ahead that indicate gold is likely to rise again to its highest levels: the 2908 and 2880 levels.
The recent decline in gold below the last resistance at 2939 is a temporary corrective movement, and the price is attempting to break through this strong resistance once again.
We should wait for a decisive breakout, confirmed by a 4-hour candle closing above 2939, to signal further upward movement toward the target of 2970.
However, as long as the price remains below 2939, it is likely to test the 2908 level. If the bearish trend continues, the price may extend its decline to 2880.
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The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.