GOLD: Waiting for the Bears… Still Bearish
GOLD: Waiting for the Bears… Still Bearish
Since my previous analysis, gold has maintained its strength. We are aware that gold is in a strong bullish trend. However, as I explained in the previous video, the price is also manipulated.
Our pre-identified resistance zone once again halted the price from rising further above 2530. The 2530 price zone was tested three times, and the price found strong support near 2500. Over the past few days, gold has been oscillating between 2500 and 2530.
A move below 2500 this time could open the doors for further price declines. The first support will be found near 2483, followed by 2470, and other targets as shown on the chart.
If the price doesn’t manage to create a solid bearish move in the coming days, it may continue to fluctuate between 2500 and 2530.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Previous analysis:
Since my previous analysis, gold has maintained its strength. We are aware that gold is in a strong bullish trend. However, as I explained in the previous video, the price is also manipulated.
Our pre-identified resistance zone once again halted the price from rising further above 2530. The 2530 price zone was tested three times, and the price found strong support near 2500. Over the past few days, gold has been oscillating between 2500 and 2530.
A move below 2500 this time could open the doors for further price declines. The first support will be found near 2483, followed by 2470, and other targets as shown on the chart.
If the price doesn’t manage to create a solid bearish move in the coming days, it may continue to fluctuate between 2500 and 2530.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Previous analysis:
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GOLD: Today's short-term analysis
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