"Gold Price Analysis: Key Support Break Could Target 2865 and Lo
The chart shows that gold (XAUUSD) is currently in a descending channel after a strong uptrend. The price is testing a major support zone around 2883, and a break below this level with bearish confirmation could lead to further downside. the bearish structure suggests more downside pressure. Keep an eye on confirmation signals before taking a position.
If gold breaks below 2883, the first short-term target would be 2865. If bearish momentum continues, the next target would be around 2845, followed by the key support at 2872. Watch for confirmation before entering a position.
If gold breaks below 2883, the first short-term target would be 2865. If bearish momentum continues, the next target would be around 2845, followed by the key support at 2872. Watch for confirmation before entering a position.
Trade active
Nice! The first target at 2865 has been achieved. If bearish momentum continues, the next target to watch is around 2845. Keep an eye on price action for confirmation
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If you want to receive more Analysis signals, please join our Telegram channel. t.me/+JLFlD0eg3LFjNjU8
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.