GOLD Outlook: Bearish Below 2558, Key Levels in Focus
GOLD Technical Analysis
GOLD has dropped about $70 as highlighted in the previous analysis.
The price remains under bearish pressure as long as it trades below 2558, aiming to reach 2526. If it falls below 2526, it may further decline to 2500.
For a bullish reversal, GOLD needs to break above 2558. This could lead to targets at 2576 and 2588. However, if the price cannot stabilize above 2588, a decline is likely.
Key Levels:
Pivot Point: 2558
Support Levels: 2526, 2516, 2500
Resistance Levels: 2576, 2588, 2606
Trend Outlook:
Bearish while below 2558
Bullish until 2588 if it breaks above 2588
previous idea:
GOLD has dropped about $70 as highlighted in the previous analysis.
The price remains under bearish pressure as long as it trades below 2558, aiming to reach 2526. If it falls below 2526, it may further decline to 2500.
For a bullish reversal, GOLD needs to break above 2558. This could lead to targets at 2576 and 2588. However, if the price cannot stabilize above 2588, a decline is likely.
Key Levels:
Pivot Point: 2558
Support Levels: 2526, 2516, 2500
Resistance Levels: 2576, 2588, 2606
Trend Outlook:
Bearish while below 2558
Bullish until 2588 if it breaks above 2588
previous idea:
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