Gold is currently exhibiting bullish trend activity
Updated
Technical Analysis: Gold
Gold is currently exhibiting bullish trend activity. The price is stabilizing in the bullish zone and is expected to continue rising towards the bullish targets of 2321 and 2327. A break above 2328 would indicate a continuation of the bullish trend towards 2357, especially in anticipation of the CPI and FED rate decisions tomorrow.
Gold is currently exhibiting bullish trend activity. The price is stabilizing in the bullish zone and is expected to continue rising towards the bullish targets of 2321 and 2327. A break above 2328 would indicate a continuation of the bullish trend towards 2357, especially in anticipation of the CPI and FED rate decisions tomorrow.
- Bullish Scenario:
As long as the price remains above 2302 and 2292, the bullish trend is expected to continue towards 2321. If it breaks above this level, the next target is 2357. - Bearish Scenario:
For a bearish trend to develop, the price must break below 2292 on a 4-hour candle close. This would signal a move towards 2278 and potentially 2260. - Key Levels:
- Pivot Line: 2302
- Resistance Lines: 2320, 2333, 2357
- Support Lines: 2278, 2260, 2248 - Today's Expected Range:
The price is expected to move between the support level of 2292 and the resistance level of 2328.
Comment
Updatethe price about reaching the resistance line which is 2321,
so pushed up about +150 pip ✅ and now will touch the 2321 as well
Next Movement:
To continue its upward momentum, the price must stabilize above 2321, targeting 2327 and potentially higher levels.
If the price remains below 2321, it will likely consolidate between 2321 and 2311 until a breakout occurs.
Timeframes: 4-hour and 1-hour charts
Current Price: 2319
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