GOLD Bearish Trend Below Key 2500 Level
Gold Technical Analysis - 9 Sep. 2024:
The price is expected to follow a bearish trend if it remains below 2500, with potential targets at 2484 and 2475. A further decline could occur if the price closes a 4-hour candle below 2466, potentially targeting 2442.
However, if the price reverses and stabilizes above 2500, it may signal a bullish move towards 2516, especially if a 4-hour candle closes above this level.
Key Levels:
Pivot Point: 2500
Resistance Levels: 2516, 2526, 2532
Support Levels: 2484, 2475, 2466
Expected Trading Range: 2509 - 2466
Trend: Bearish as long as the price remains below 2500.
previous idea:
The price is expected to follow a bearish trend if it remains below 2500, with potential targets at 2484 and 2475. A further decline could occur if the price closes a 4-hour candle below 2466, potentially targeting 2442.
However, if the price reverses and stabilizes above 2500, it may signal a bullish move towards 2516, especially if a 4-hour candle closes above this level.
Key Levels:
Pivot Point: 2500
Resistance Levels: 2516, 2526, 2532
Support Levels: 2484, 2475, 2466
Expected Trading Range: 2509 - 2466
Trend: Bearish as long as the price remains below 2500.
previous idea:
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