Gold Lokking Protetinal Move Analysis for moneday
Gold, Here’s an interpretation based on the visual information:
Key Observations:
Supply Zone (Red Box):
The red zone above $2,720 is marked as a supply area, indicating strong resistance.
Price has previously reacted to this level, suggesting a possible reversal or slowdown in bullish momentum upon retesting.
Support Zone (Green Box):
The green zone around $2,690 serves as a support level.
This zone is likely to act as a buying area, providing a base for a bullish continuation.
EMA/SMA:
A moving average is shown below the price, suggesting the overall trend remains bullish.
Price is trading well above the moving average, which acts as dynamic support.
Projection:
The “V” shaped pullback shown suggests a retracement into the green support zone.
Following the retracement, a bullish push toward the red supply zone is anticipated.
Monday’s Outlook:
A short-term dip to the $2,690-$2,700 level is possible before buyers step in to push the price higher.
Watch for bullish candlestick patterns or volume confirmations in the support area to validate the continuation move.
Be cautious near the $2,720-$2,740 supply zone as resistance may lead to consolidation or reversal.
Would you like deeper insights or refinements to this analysis?
Key Observations:
Supply Zone (Red Box):
The red zone above $2,720 is marked as a supply area, indicating strong resistance.
Price has previously reacted to this level, suggesting a possible reversal or slowdown in bullish momentum upon retesting.
Support Zone (Green Box):
The green zone around $2,690 serves as a support level.
This zone is likely to act as a buying area, providing a base for a bullish continuation.
EMA/SMA:
A moving average is shown below the price, suggesting the overall trend remains bullish.
Price is trading well above the moving average, which acts as dynamic support.
Projection:
The “V” shaped pullback shown suggests a retracement into the green support zone.
Following the retracement, a bullish push toward the red supply zone is anticipated.
Monday’s Outlook:
A short-term dip to the $2,690-$2,700 level is possible before buyers step in to push the price higher.
Watch for bullish candlestick patterns or volume confirmations in the support area to validate the continuation move.
Be cautious near the $2,720-$2,740 supply zone as resistance may lead to consolidation or reversal.
Would you like deeper insights or refinements to this analysis?
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