The current price movement of gold suggests an attempt to reach 2,880, or possibly extend to 2,895, as part of a corrective move before resuming a downward trajectory. This resistance zone has previously acted as a strong barrier, preventing further upward movement and triggering reversals.
Once rejection occurs, the next significant level to watch is 2,844, where the market could find temporary support. A break below this level would confirm bearish strength, leading the price toward 2,811, a deeper support zone where buyers might attempt to regain control. If selling pressure persists, further downside movement could follow.
For bullish momentum to be established, the price must successfully break above the 2,880 – 2,895 resistance zone and maintain a 4-hour candle close above it.
Tendency Keys: 2,880
Resistance Line: 2,880, 2,895, 2938
Support Line: 2844, 2811, 2782
Once rejection occurs, the next significant level to watch is 2,844, where the market could find temporary support. A break below this level would confirm bearish strength, leading the price toward 2,811, a deeper support zone where buyers might attempt to regain control. If selling pressure persists, further downside movement could follow.
For bullish momentum to be established, the price must successfully break above the 2,880 – 2,895 resistance zone and maintain a 4-hour candle close above it.
Tendency Keys: 2,880
Resistance Line: 2,880, 2,895, 2938
Support Line: 2844, 2811, 2782
Trade active
The price completed its correction below the resistance level of 2895 and closed the 4-hour candle beneath it. For further upward movement, the price must break this resistance and establish stability above it. However, with the current 4-hour candle closing below the 2895 resistance, the price is likely to decline below 2880 and potentially reach 2844.
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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.
about 4 Analysis per day.
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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.