GOLD / Consolidation Near Resistance Ahead of Year-End Moves
Updated
Gold Technical Analysis
The price is about to reach the resistance line which is 2636 and then will consolidate between 2636 and 2620 until a breakout occurs.
If the price breaks above 2638 with a 4-hour candle close, it signals a continuation of the bullish trend toward 2653.
Conversely, stability below 2620 could drive the price down to 2605.
Key Levels:
Pivot Point: 2628
Resistance Levels: 2636, 2645, 2653
Support Levels: 2620, 2605, 2591
Trend Outlook:
Bearish below 2620
Bullish above 2623
The price is about to reach the resistance line which is 2636 and then will consolidate between 2636 and 2620 until a breakout occurs.
If the price breaks above 2638 with a 4-hour candle close, it signals a continuation of the bullish trend toward 2653.
Conversely, stability below 2620 could drive the price down to 2605.
Key Levels:
Pivot Point: 2628
Resistance Levels: 2636, 2645, 2653
Support Levels: 2620, 2605, 2591
Trend Outlook:
Bearish below 2620
Bullish above 2623
Trade active
Gold Technical Analysis
The price continues to consolidate between 2,620 and 2,636, as previously mentioned.
A 4-hour candle closing below 2,620 will support a bearish move toward 2,605.
Conversely, closing above 2,636 will indicate a bullish move toward 2,653.
Key Levels:
Pivot Point: 2620
Resistance Levels: 2636, 2645, 2653
Support Levels: 2605, 2591, 2585
Trend Outlook:
Bearish below 2620
Bullish above 2636
Trade closed: target reached
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