GOLD BUY ZONE AROUND 2650 TARGET 2670
1. Support Zone Confirmation: $2,650 is a critical level near the 23.6% Fibonacci retracement, which has acted as support in recent sessions10 12. A bounce from this area would validate the entry point.
2. Resistance at $2,670: This level coincides with minor resistance on intraday charts and is a modest profit target within the current consolidation zone. It also lies below the next significant resistance near $2,690, reducing the risk of a reversal before profit-taking.
3. Risk-Reward Ratio: To maintain a favorable risk-reward ratio, ensure a proper stop-loss, ideally below $2,640.
Breakout Potential: If gold breaks above $2,670 with strong volume, consider trailing your stop-loss to capture additional upside. FOR MORE INFORMATION CONTACT US
2. Resistance at $2,670: This level coincides with minor resistance on intraday charts and is a modest profit target within the current consolidation zone. It also lies below the next significant resistance near $2,690, reducing the risk of a reversal before profit-taking.
3. Risk-Reward Ratio: To maintain a favorable risk-reward ratio, ensure a proper stop-loss, ideally below $2,640.
Breakout Potential: If gold breaks above $2,670 with strong volume, consider trailing your stop-loss to capture additional upside. FOR MORE INFORMATION CONTACT US
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