Gold Approaches Key Resistance at 2,731: Bullish or Pullback?
Updated
GOLD
The price is approaching a key resistance area at 2,731. If the price breaks and closes above this resistance, the next target is 2,753, indicating a bullish continuation. However, failure to break through may lead to a pullback towards the support correction zone around 2,710–2,697. Further decline could extend to the support zone near 2,685.
The current trend is bullish, but a rejection at the 2,731 level could trigger a correction before any further upward movement.
Key Levels:
Pivot Point: 2731
Resistance Levels: 2753, 2765, 2775
Support Levels: 2720, 2710, 2697
Trend Outlook:
Bearish: By stability Below 2731
Bullish: Above 2732
Previous idea:
The price is approaching a key resistance area at 2,731. If the price breaks and closes above this resistance, the next target is 2,753, indicating a bullish continuation. However, failure to break through may lead to a pullback towards the support correction zone around 2,710–2,697. Further decline could extend to the support zone near 2,685.
The current trend is bullish, but a rejection at the 2,731 level could trigger a correction before any further upward movement.
Key Levels:
Pivot Point: 2731
Resistance Levels: 2753, 2765, 2775
Support Levels: 2720, 2710, 2697
Trend Outlook:
Bearish: By stability Below 2731
Bullish: Above 2732
Previous idea:
Trade closed: target reached
GOLD
The price has risen precisely as we previously anticipated.
It now appears poised for a correction towards 2738. If the price stabilizes below 2738, this signals a potential further decline toward 2720. However, if it holds above 2738, the bullish trend is likely to continue, targeting 2758 and potentially extending to 2775.
Key Levels:
Pivot Point: 2753
Resistance Levels: 2765, 2775
Support Levels: 2738, 2720, 2710
Trend Outlook:
Bearish Correction till 2738
Bearish trend By stability Below 2738
Bullish: Above 2753
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