Micro Gold Futures

23 Nov

• The price of Micro Gold Futures has generally been increasing since the start of 2024, but there have been some pullbacks. Recently, the price recovered after a sharp pullback and is moving towards resistance at previous high prices.
  
• Support is around $2,600, which aligns with the lower Bollinger Band and a previous consolidation zone.
  
• Resistance is near $2,800, which aligns with the upper Bollinger Band and prior highs.
  
• Recent candlestick patterns are bullish and suggest a recovery. This is further supported by increasing momentum.
  
• There isn't a clear reversal pattern yet, but you should watch for resistance near $2,800.
  
• If the price goes over $2,800 with strong volume, the uptrend may continue.
  
• If the price is rejected or a reversal pattern forms near $2,800, the price may pull back towards the moving average or lower Bollinger Band.