GOLD / Bearish Outlook Confirmed with Break Below 2638
Updated
Technical Analysis:
The price is expected to consolidate between 2638 and 2648 today until a breakout occurs.
A sustained move below 2638 could trigger a decline towards 2624, with a further drop likely if 2624 is breached, targeting 2615 and eventually 2605.
Alternatively, if the price stabilizes above 2638, it may signal a shift towards a bullish trend, with the bullish momentum gaining strength upon a break and closing above 2648.
Key Levels:
Pivot Point: 2638
Resistance Levels: 2648, 2661, 2670
Support Levels: 2624, 2615, 2587
Trend:
Bearish by stabilizing under 2638
Bullish: Upon breaking 2648
previous idea:
The price is expected to consolidate between 2638 and 2648 today until a breakout occurs.
A sustained move below 2638 could trigger a decline towards 2624, with a further drop likely if 2624 is breached, targeting 2615 and eventually 2605.
Alternatively, if the price stabilizes above 2638, it may signal a shift towards a bullish trend, with the bullish momentum gaining strength upon a break and closing above 2648.
Key Levels:
Pivot Point: 2638
Resistance Levels: 2648, 2661, 2670
Support Levels: 2624, 2615, 2587
Trend:
Bearish by stabilizing under 2638
Bullish: Upon breaking 2648
previous idea:
Trade closed: target reached
GOLD
Update - Active
The price dropped as we mentioned reached 2624 exactly and reversed.
So now still we have a bearish trend from 2638 to get 2624 and more if can broke it.
Should break 2638 and 2645 to be bullish trend
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