The market remains in a bearish trend, but currently, the price is showing signs of a short-term correction to the upside. It seems likely that the price will rise to test the 2880 level and could potentially extend its movement to 2895, where a stronger resistance is expected. This zone acts as a crucial barrier, and unless the price successfully breaks above it, the bearish momentum is likely to resume.
If the price fails to sustain above 2895, it is expected to decline again, targeting 2844 as the next key support. A break below this level would reinforce the bearish outlook, leading to a deeper drop toward 2811, which serves as a significant support area.
However, if the price unexpectedly reverses and breaks above 2895, particularly with a confirmed 4-hour candle close, this would indicate a shift in momentum, potentially triggering further upside movement. Such a breakout would weaken the bearish structure and could lead to a stronger recovery.
Tendency Keys: 2880
Resistance Line: 2880, 2895, 2938
Support Line: 2844, 2811, 2782
If the price fails to sustain above 2895, it is expected to decline again, targeting 2844 as the next key support. A break below this level would reinforce the bearish outlook, leading to a deeper drop toward 2811, which serves as a significant support area.
However, if the price unexpectedly reverses and breaks above 2895, particularly with a confirmed 4-hour candle close, this would indicate a shift in momentum, potentially triggering further upside movement. Such a breakout would weaken the bearish structure and could lead to a stronger recovery.
Tendency Keys: 2880
Resistance Line: 2880, 2895, 2938
Support Line: 2844, 2811, 2782
Trade active
Gold prices fell over 1% on Friday as the dollar held close to two-week highs after U.S. inflation data came in line with expectations, suggesting the Federal Reserve may adopt a cautious stance on additional rate cuts. However, it rebounded following statements made by Donald Trump and currently will move between 2844 and 2880.
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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.