The gold price recently established a resistance zone at the highs near $2,955 - $2,938, leading to a decline after failing to sustain above this level. Currently, it trades below this resistance, indicating that sellers have taken control. After the recent drop, the price might attempt a correction back towards $2,938 before continuing downward. This correction would serve as a retest of the broken resistance, which could now act as a strong barrier for further upside movement.
If the price fails to reclaim the resistance zone, it is likely to continue its decline towards the support area around $2,880 - $2,859. A break below this region would expose the next support at $2,844, a level where buyers might attempt to stabilize the price. However, if bearish momentum persists and gold falls below this key support, the next significant levels to watch are $2,820 and $2,782.
If the price fails to reclaim the resistance zone, it is likely to continue its decline towards the support area around $2,880 - $2,859. A break below this region would expose the next support at $2,844, a level where buyers might attempt to stabilize the price. However, if bearish momentum persists and gold falls below this key support, the next significant levels to watch are $2,820 and $2,782.
Trade active
The gold price has touched the support level for the second time but reversed due to recent developments regarding U.S. President Donald Trump's tariff plans. As a result, the price is expected to attempt to reach 2938, and above that, the final level at 2955.
about 4 Analysis per day.
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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.
about 4 Analysis per day.
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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.