SasanSeifi|Will Gold Reach Higher Targets!?
Updated
Hey there, ✌Analyzing the gold chart on the 2-hour timeframe shows that after a bearish trend and reaching the 2540 level, the price entered a consolidation phase and faced demand. Following the breakout of the supply zone, the price rallied to the 2640 range.
Currently, after hitting the 2640 resistance, the price has started a corrective move toward the support zone at 2620-2610. In a bullish scenario, the price is expected to target levels of 2645, 2650, 2660, and potentially 2667-2675. However, rejection and further corrections are possible from these levels.
If the price breaks below 2610 and stabilizes, the likelihood of further declines toward 2600-2590 increases.
On the daily timeframe, the overall outlook leans more towards a bearish move, with a target of 2500.
💢 Please remember that this is just my personal viewpoint and should not be taken as investment advice. I’d love to hear your thoughts and share opinions!
Happy trading!✌😎
Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!✌
Currently, after hitting the 2640 resistance, the price has started a corrective move toward the support zone at 2620-2610. In a bullish scenario, the price is expected to target levels of 2645, 2650, 2660, and potentially 2667-2675. However, rejection and further corrections are possible from these levels.
If the price breaks below 2610 and stabilizes, the likelihood of further declines toward 2600-2590 increases.
On the daily timeframe, the overall outlook leans more towards a bearish move, with a target of 2500.
💢 Please remember that this is just my personal viewpoint and should not be taken as investment advice. I’d love to hear your thoughts and share opinions!
Happy trading!✌😎
Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!✌
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The price moved as expected, reaching the 2660 target with a growth of nearly 350 pips. If the 2667–2675 level breaks with strong momentum, the next targets could be 2685, 2695, and 2700.
On the other hand, if momentum weakens and a sell confirmation occurs, we might see some corrections.
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