Gold Holds Steady Amid Overbought Conditions Following Record
Updated
Gold Technical Analysis – 24 September 2024
Gold Holds Steady; Overbought Conditions Emerge After Fresh Record High
Gold continues to exhibit a bullish trend, but a potential correction may occur, with retests expected at the $2,650 and $2,680 levels. A retest remains likely as long as the price stays below $2,634, targeting $2,625 and $2,615. A break below this level could see a further decline towards $2,605. Conversely, a 4-hour candle close above $2,638 would indicate a continuation of the bullish trend, with $2,648 as the next target.
Key Levels:
Pivot Point: 2,634
Resistance Levels: 2648, 2660, 2680
Support Levels: 2615, 2605, 2593
Trend:
Correction towards 2625 - 2615
Bullish above 2638
Gold Holds Steady; Overbought Conditions Emerge After Fresh Record High
Gold continues to exhibit a bullish trend, but a potential correction may occur, with retests expected at the $2,650 and $2,680 levels. A retest remains likely as long as the price stays below $2,634, targeting $2,625 and $2,615. A break below this level could see a further decline towards $2,605. Conversely, a 4-hour candle close above $2,638 would indicate a continuation of the bullish trend, with $2,648 as the next target.
Key Levels:
Pivot Point: 2,634
Resistance Levels: 2648, 2660, 2680
Support Levels: 2615, 2605, 2593
Trend:
Correction towards 2625 - 2615
Bullish above 2638
Trade closed: target reached
GOLD
Update
The price reached our targets perfectly about +250 pip and still running to get 2369 as well.
As long as trades 2648 it means will continue the bullish trend till 2665 and 2680, the correction will be available till 2648
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