Bearish Momentum Holds Below 2738; Bullish Breakout Above 2739
GOLD
As long as the price remains below 2,738, a bearish trend is favored, potentially reaching 2,719 and 2,712, with an extension to 2,695 if downward momentum persists.
However, a 4-hour or 1-hour candle close above 2,739 would signal a bullish shift, targeting 2,748 and 2,758, with a further breakout required to advance toward 2,775.
Key Levels:
Pivot Point: 2738
Resistance Levels: 2748, 2758, 2775
Support Levels: 2719, 2709, 2695
Trend Outlook:
Bearish while under 2738
Above 2739: Uptrend
As long as the price remains below 2,738, a bearish trend is favored, potentially reaching 2,719 and 2,712, with an extension to 2,695 if downward momentum persists.
However, a 4-hour or 1-hour candle close above 2,739 would signal a bullish shift, targeting 2,748 and 2,758, with a further breakout required to advance toward 2,775.
Key Levels:
Pivot Point: 2738
Resistance Levels: 2748, 2758, 2775
Support Levels: 2719, 2709, 2695
Trend Outlook:
Bearish while under 2738
Above 2739: Uptrend
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