Ahazem

Ahazem

Our recent analysis on gold's movement confirms a profit-taking phase that pulled the metal down by nearly 3.5% from its high of $2720, breaking all previous 1H support levels and establishing a new support at $2622. Key Levels to Watch: Staying above $2622 on the hourly chart and breaking above the initial resistance at $2641 could signal the end of the...

Ahazem

An hourly close above the dotted line at 2706 today is crucial to confirm this week's momentum, following the breakout above the 2641 and 2687 resistance levels. This would pave the way for the next hourly target at 2739 and the daily target at 2748. Short-term investors and traders may find this phase ideal for profit-taking. However, a close below 2706 next...