Gold Price Analysis: Potential Pullback After Hitting Resistance

1 Feb

1. Uptrend Channel Formation:

The price has been moving upwards within a parallel ascending channel (blue zone).

The midline (red dashed line) acts as a dynamic support/resistance level.



2. Current Price Action:

The price recently touched the upper boundary of the channel and faced resistance at around $2,798.

A rejection occurred, as indicated by the red arrow suggesting a potential pullback.




Key Support & Resistance Levels:

Resistance: Near $2,800 - $2,805 (upper boundary of the channel).

Support:

$2,780 - $2,770 (midline red dashed area).

$2,740 - $2,720 (lower channel boundary).



Potential Scenarios:

1. Bearish Correction (Likely Scenario)

If the price fails to hold above $2,780, it could test the $2,760-$2,740 support area.

A break below the channel may lead to a deeper correction.



2. Bullish Continuation

If buyers defend the $2,780-$2,760 support, the uptrend could resume, aiming for new highs above $2,800.




Trading Considerations:

Short-term traders: Watch for price action near $2,780-$2,760 for potential buy signals.

Breakout traders: A confirmed break below $2,740 could indicate a shift in trend.

4 Feb

Trading ditutup: target tercapai

🎯 Target Hit! Another Successful Trade! 🎯

Patience and strategy always pay off! As predicted, our GOLD analysis played out perfectly, hitting our target with precision. 🚀🔥

This is why we trust the process, respect market structure, and execute with confidence.

Huge thanks to all my amazing followers for your support! Let's keep learning and winning together! 💰📊

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