Bullish Trend Holding Above 2918 – Key Levels & Market ImpactGOLD Analysis | March 7, 2025
Gold is expected to experience high volatility due to key events, including the NFP report, unemployment rate data, and Jerome Powell's speech, all of which could significantly impact price action.
🔍 Technical Outlook:
Gold is currently stabilizing within a bullish trend while trading above 2918.
A 15-minute or 1-hour candle close above 2925 would confirm bullish momentum, targeting 2934.
A breakout above 2934 could extend gains toward 2945 and 2954.
For a bearish confirmation, a 4-hour candle close below 2918 is required, which could push the price down to 2906.
Additionally, if the job report is positive, it could strengthen the USD and pressure gold lower.
📌 Key Levels to Watch:
🔸 Resistance: 2934 | 2945 | 2954
🔻 Support: 2906 | 2895 | 2880