Gold Support and Resistance Levels
Updated
Gold Market Analysis
Key Support Level: 2480
Current Bias: Bullish
Change in Bias: The market remains bullish while the price is above the 2480 level. If the price breaks and sustains below this support, the bias would shift to bearish.
Immediate Resistance Level: 2530
Current Price Action: Monitor the price behavior around this level. If gold approaches 2530, watch for potential resistance. A breakout above this resistance could suggest further upside potential.
Upside Targets:
2580
2600
Immediate Support Level: 2480
Observation: If gold breaks above 2530, the next resistance levels to watch are 2580 and 2600. These targets are based on the continuation of the bullish trend if the price maintains momentum.
Downside Targets:
2450
2430
Observation: If the price falls below the key support level of 2480 and sustains below it, the bearish outlook would suggest targets at 2450 and 2430. These levels represent potential areas of further support.
Volatility Considerations:
Sustained Moves: Pay attention to price action and volume around these key levels. A strong, sustained move below 2480, combined with increased volatility, would reinforce the bearish outlook and target the lower levels mentioned.
Summary:
Bullish Scenario: While above 2480, gold is in a bullish phase with potential upside targets of 2580 and 2600.
Bearish Scenario: A break below 2480 would shift the view to bearish, with targets at 2450 and 2430.
Keep an eye on price behavior around these key levels to refine your strategy and make informed trading decisions.
Key Support Level: 2480
Current Bias: Bullish
Change in Bias: The market remains bullish while the price is above the 2480 level. If the price breaks and sustains below this support, the bias would shift to bearish.
Immediate Resistance Level: 2530
Current Price Action: Monitor the price behavior around this level. If gold approaches 2530, watch for potential resistance. A breakout above this resistance could suggest further upside potential.
Upside Targets:
2580
2600
Immediate Support Level: 2480
Observation: If gold breaks above 2530, the next resistance levels to watch are 2580 and 2600. These targets are based on the continuation of the bullish trend if the price maintains momentum.
Downside Targets:
2450
2430
Observation: If the price falls below the key support level of 2480 and sustains below it, the bearish outlook would suggest targets at 2450 and 2430. These levels represent potential areas of further support.
Volatility Considerations:
Sustained Moves: Pay attention to price action and volume around these key levels. A strong, sustained move below 2480, combined with increased volatility, would reinforce the bearish outlook and target the lower levels mentioned.
Summary:
Bullish Scenario: While above 2480, gold is in a bullish phase with potential upside targets of 2580 and 2600.
Bearish Scenario: A break below 2480 would shift the view to bearish, with targets at 2450 and 2430.
Keep an eye on price behavior around these key levels to refine your strategy and make informed trading decisions.
Note
At Resistance now watch PA for rejection or sustains above it
Note
BO of resistance going for first target 2580
Note
Note
2580 acheived next 2600 to test
Note
made a dip to take support now aiming for 2600
Trade closed: target reached
2600 acheived and rejected there now approaching support level.
Note
2600 break out happened now its ucharted area sky is the limit for gold
Note
Still rocking
Note
2650 in comming if continues or a dip to support levels can resumes to attain 2650 area levels
Note
Immeadiate support area held Note
Almost there to get 2650
Trade closed: target reached
2650 Target acheived
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