MARKET NEXT CORRECTION AREAS
Updated
Additionally, any decline in gold may present buying opportunities as the metal remains a favored hedge amid inflation and heightened global tensions. If momentum persists and resistance levels at $2,751 and $2,800 are decisively breached, analysts project that gold could aim for new highs around $2,820 or higher. However, a break below $2,710 could suggest a deeper correction to $2,685 before buyers re-enter the market
In the current gold market, analysts expect a potential retracement following a significant rally, reaching near all-time highs driven by geopolitical uncertainties and Federal Reserve rate cuts. Gold has been hovering around resistance points in the $2,700-$2,800 range as October progresses, and technical indicators suggest possible corrections due to overbought conditions. Specifically, gold’s Fibonacci support level around $2,733 could mark a key area for short-term pullbacks, possibly to $2,700 or lower, before an anticipated continuation upward in Q4 due to seasonal patterns
In the current gold market, analysts expect a potential retracement following a significant rally, reaching near all-time highs driven by geopolitical uncertainties and Federal Reserve rate cuts. Gold has been hovering around resistance points in the $2,700-$2,800 range as October progresses, and technical indicators suggest possible corrections due to overbought conditions. Specifically, gold’s Fibonacci support level around $2,733 could mark a key area for short-term pullbacks, possibly to $2,700 or lower, before an anticipated continuation upward in Q4 due to seasonal patterns
Trade active
trade active from the area of 2777_2780 keep layeringTrade closed: stop reached
market hits the level of 2742 all tps done now
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