Downside Movement to 2720:
Gold prices are facing resistance at key levels, with bearish momentum likely to push prices lower in the near term.
A breakdown below critical support levels, combined with weakening bullish sentiment, could drive prices toward the 2720 target.
This move may be fueled by a stronger U.S. dollar, rising bond yields, or reduced safe-haven demand.
The 2720 level represents a strong support zone, where buyers are expected to re-enter the market.
Recovery and Upside Rally to 3040:
Once gold reaches the 2720 support level, a reversal is anticipated as buyers step in to capitalize on the lower prices.
A combination of technical buying, renewed safe-haven demand, and potential dovish signals from central banks could trigger a strong upward move.
The rally is expected to gain momentum, breaking through key resistance levels and ultimately targeting the 3040 mark.
This level aligns with previous highs and represents a significant psychological and technical resistance zone.
Key Drivers to Watch:
U.S. Federal Reserve monetary policy and interest rate decisions.
Geopolitical tensions and global economic uncertainty.
U.S. dollar strength or weakness.
Inflation data and central bank gold purchases.
Conclusion:
Gold will likely experience a short-term decline to 2720, followed by a robust recovery rally toward 3040. Traders should monitor key support and resistance levels and macroeconomic factors to confirm this price trajectory. Risk management remains crucial, as unexpected market developments could alter this outlook.
Gold prices are facing resistance at key levels, with bearish momentum likely to push prices lower in the near term.
A breakdown below critical support levels, combined with weakening bullish sentiment, could drive prices toward the 2720 target.
This move may be fueled by a stronger U.S. dollar, rising bond yields, or reduced safe-haven demand.
The 2720 level represents a strong support zone, where buyers are expected to re-enter the market.
Recovery and Upside Rally to 3040:
Once gold reaches the 2720 support level, a reversal is anticipated as buyers step in to capitalize on the lower prices.
A combination of technical buying, renewed safe-haven demand, and potential dovish signals from central banks could trigger a strong upward move.
The rally is expected to gain momentum, breaking through key resistance levels and ultimately targeting the 3040 mark.
This level aligns with previous highs and represents a significant psychological and technical resistance zone.
Key Drivers to Watch:
U.S. Federal Reserve monetary policy and interest rate decisions.
Geopolitical tensions and global economic uncertainty.
U.S. dollar strength or weakness.
Inflation data and central bank gold purchases.
Conclusion:
Gold will likely experience a short-term decline to 2720, followed by a robust recovery rally toward 3040. Traders should monitor key support and resistance levels and macroeconomic factors to confirm this price trajectory. Risk management remains crucial, as unexpected market developments could alter this outlook.
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.
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.