Long

Gold: Bullish Move Ahead

Updated

The gold market has been exhibiting bullish momentum, supported by an upward trendline. After reaching a recent low at approximately 2,611.93 USD, the price has shown signs of a rebound near key Fibonacci levels. The key support area around 2,610.00 USD (0.786 retracement level) is holding strong, and gold is now approaching the 0.50 Fibonacci retracement level at 2,669.02 USD.

If the price manages to break above the 2,669.02 level, the next target would be near the 0.236 level around 2,699.16 USD. The bullish trend could accelerate further if gold surpasses the 2,726.10 USD resistance zone.

Key Levels:

Support: 2,611.93 USD
Resistance: 2,726.10 USD
Fibonacci Retracements: 2,655.54 (0.618) and 2,669.02 (0.50) act as significant levels for potential breakouts.

Trade active

We wait for the breakout support trend line 2643 before going short; if it breaks above 2664, we then buy.

Trade closed: target reached

Seems like it’s will going down so looking for 2643 to entry short I will add update chart later.

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TP for short around 2624 so good luck

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Update chart:

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GG red now.

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Congratulations to everyone who got take profit on short :)

me22_

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