Hello Traders! 👋
What are your thoughts on Gold?
After finding strong support around the psychological $4,000 level, Gold has rallied toward the key $4,400 resistance zone. This area is particularly important as it coincides with a major descending trendline that has capped price action throughout the broader downtrend.
So far, the confluence of horizontal resistance and trendline resistance has limited further upside momentum. As long as price remains below this zone, the current advance is viewed as a corrective recovery rather than the start of a new bullish trend.
We expect Gold to spend some time consolidating and fluctuating within this resistance area before sellers potentially regain control. A confirmed rejection could trigger the next bearish leg lower, with downside targets focused on the recent support levels.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
What are your thoughts on Gold?
After finding strong support around the psychological $4,000 level, Gold has rallied toward the key $4,400 resistance zone. This area is particularly important as it coincides with a major descending trendline that has capped price action throughout the broader downtrend.
So far, the confluence of horizontal resistance and trendline resistance has limited further upside momentum. As long as price remains below this zone, the current advance is viewed as a corrective recovery rather than the start of a new bullish trend.
We expect Gold to spend some time consolidating and fluctuating within this resistance area before sellers potentially regain control. A confirmed rejection could trigger the next bearish leg lower, with downside targets focused on the recent support levels.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
Emir iptal
The price reached the target, but the expected correction did not occur.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅ MY INSTAGRAM :
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅ MY INSTAGRAM :
instagram.com/marketanalaysis
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.