Gold Market Analysis: Anticipating Key Levels and Trading Strate
As of the latest insights, gold prices are experiencing fluctuations with a focus on key resistance and support levels. Currently, the target levels to watch are $2658 and $2666, with a potential buying opportunity identified at $2633.27.
Note
XAU/USD (Gold) indicates a clear downward pattern, particularly when considering 2685.33 as the fifth wave in the Elliott Wave sequence and 2624.52 as the starting point of wave 1 or A. This perspective suggests that Gold may be forming a zigzag pattern after potentially reaching support levels around 2674 or 2666.44, which could lead to a flat correction.Note
If the triangle pattern for XAU/USD breaks downward, it could signify the beginning of a new bearish trend.
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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.
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.