Sorry, I choose to continue selling!
Updated
As gold moves through this sell zone, $2,648 has been identified as the key stop loss level. Traders should pay close attention to this ceiling, as a breach of this ceiling could signal a reversal of the bearish trend and push prices higher. However, if the price remains below this level, the downward momentum remains.
First goal: $2,595
The first potential downside target for gold is $2,595. This level represents a modest pullback from the current price action and could be a key fulcrum for market participants to gauge gold's strength.A decisive break below $2,595 could further fuel bearish sentiment in the market.
Second goal: $2,575
If gold breaks through the $2,595 support, the next important level will be $2,575. traders are likely to see selling pressure increase as bearish momentum builds. Investors should watch this level closely for signs of a sustained decline.
Third goal: $2,540
The most aggressive target for potential selling this week is $2,540.If gold reaches this level, it could signal a broader trend reversal, with further downside risks becoming more apparent. This target is likely to attract intense attention from short sellers and long-term buyers looking for a cheap entry point.
conclusion
In summary, the price of gold is expected to fall within the sell range of $2,615 to $2,630, 5, with a stop loss of $2,648 protecting traders and ensuring that the risk is minimized in case of an unexpected price rebound. Keep an eye on these levels to see what the gold market will do next this week
First goal: $2,595
The first potential downside target for gold is $2,595. This level represents a modest pullback from the current price action and could be a key fulcrum for market participants to gauge gold's strength.A decisive break below $2,595 could further fuel bearish sentiment in the market.
Second goal: $2,575
If gold breaks through the $2,595 support, the next important level will be $2,575. traders are likely to see selling pressure increase as bearish momentum builds. Investors should watch this level closely for signs of a sustained decline.
Third goal: $2,540
The most aggressive target for potential selling this week is $2,540.If gold reaches this level, it could signal a broader trend reversal, with further downside risks becoming more apparent. This target is likely to attract intense attention from short sellers and long-term buyers looking for a cheap entry point.
conclusion
In summary, the price of gold is expected to fall within the sell range of $2,615 to $2,630, 5, with a stop loss of $2,648 protecting traders and ensuring that the risk is minimized in case of an unexpected price rebound. Keep an eye on these levels to see what the gold market will do next this week
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