GOLD: Bearish Pressure Persists Below Key Levels
GOLD
Technical Analysis
The price remains under bearish pressure as long as it trades below the key resistance levels of 2,576 and 2,588.
Bearish Scenario:
The price may retest the resistance levels at 2,576 or 2,588 before resuming its decline. A drop is expected towards 2,558, and if this level is breached, the downward momentum could extend to 2,526.
Bullish Scenario:
To confirm a bullish reversal, the price must decisively break above 2,588. This breakout could pave the way for an upward move targeting 2,612.
Key Levels:
Pivot Point: 2576
Support Levels: 2558, 2527, 2500
Resistance Levels: 2588, 2612, 2625
Trend Outlook:
- Bearish by stability below 2588 and 2576
- Bullish Correction till 2588
Technical Analysis
The price remains under bearish pressure as long as it trades below the key resistance levels of 2,576 and 2,588.
Bearish Scenario:
The price may retest the resistance levels at 2,576 or 2,588 before resuming its decline. A drop is expected towards 2,558, and if this level is breached, the downward momentum could extend to 2,526.
Bullish Scenario:
To confirm a bullish reversal, the price must decisively break above 2,588. This breakout could pave the way for an upward move targeting 2,612.
Key Levels:
Pivot Point: 2576
Support Levels: 2558, 2527, 2500
Resistance Levels: 2588, 2612, 2625
Trend Outlook:
- Bearish by stability below 2588 and 2576
- Bullish Correction till 2588
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t.me/Srosh_signals
~6 analyses per day. With a clear entry point
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SM World and Economy News 24/7
Urgent News ⚡️:
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Related publications
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.
my free signals channel telegram
t.me/Srosh_signals
~6 analyses per day. With a clear entry point
more than 1000 pip per week —— Accuracy +88%
SM World and Economy News 24/7
Urgent News ⚡️:
t.me/SM_News_24h
t.me/Srosh_signals
~6 analyses per day. With a clear entry point
more than 1000 pip per week —— Accuracy +88%
SM World and Economy News 24/7
Urgent News ⚡️:
t.me/SM_News_24h
Related publications
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.