GOLD (Bullish continuation...)
Technical Analysis: Gold
The gold price reversal has successfully stabilized the price upwards from 2320, continuing its ascent towards 2337 and 2342.
Current Outlook:
The price is expected to consolidate between 2320 and 2342 until a breakout occurs. The initial movement is anticipated to target 2337.
Bullish Scenario:
As long as the price trades above 2320 means will continue the bullish trend toward the first bullish station which is 2342,
Confirmation: closing 4h candle above 2342 means will get 2357 and above it will continue the bullish confirmation.
Bearish Scenario:
A drop in price and stabilization below 2320, confirmed by the close of a 4-hour candle, would indicate a downtrend towards 2302 and 2292.
Key Levels:
- Pivot Line: 2320
- Resistance Levels: 2342, 2357, 2365
- Support Levels: 2311, 2302, 2292
Today's Expected Range:
The anticipated trading range for today is between the support level at 2320 and the resistance level at 2357.
The gold price reversal has successfully stabilized the price upwards from 2320, continuing its ascent towards 2337 and 2342.
Current Outlook:
The price is expected to consolidate between 2320 and 2342 until a breakout occurs. The initial movement is anticipated to target 2337.
Bullish Scenario:
As long as the price trades above 2320 means will continue the bullish trend toward the first bullish station which is 2342,
Confirmation: closing 4h candle above 2342 means will get 2357 and above it will continue the bullish confirmation.
Bearish Scenario:
A drop in price and stabilization below 2320, confirmed by the close of a 4-hour candle, would indicate a downtrend towards 2302 and 2292.
Key Levels:
- Pivot Line: 2320
- Resistance Levels: 2342, 2357, 2365
- Support Levels: 2311, 2302, 2292
Today's Expected Range:
The anticipated trading range for today is between the support level at 2320 and the resistance level at 2357.
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