Technical Analysis for Gold: Bearish Outlook Below 2652/2666

5 hari yang lalu

### Technical Analysis for Gold: Bearish Outlook Below 2652/2666

Current Market View: Bearish
Time Frame: 30-Minute and Daily

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#### Key Resistance Zone:
- Critical Resistance Levels: The primary resistance area to monitor is 2635/2652 and 2666. This zone is pivotal because a rejection from this range could signal a strong bearish movement in gold prices.

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### Chart Analysis:
- 30-Minute Bearish Flag Pattern: The analysis highlights a developing bearish flag pattern on the 30-minute chart, indicating consolidation before a potential downward breakout. This pattern typically suggests that the market may revisit lower price levels after a brief period of consolidation.

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### Trading Strategy:
1. Entry Point:
- Look for short entry opportunities if the price stays below the 2652/2666 zone. A confirmed breakdown below the flag pattern can serve as an indicator to enter short positions.

2. Targets:
- Based on previous charts and published analysis, traders should set targets according to established support levels. Monitoring previous lows will provide insight into potential target points for take profit.

3. Stop-Loss Placement:
- To manage risk, place a stop-loss order just above the resistance levels—ideally above 2666—to safeguard against unexpected reversals.

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### Conclusion:
The current sentiment for gold remains bearish below the 2652/2666 resistance area. Traders should focus on the bearish flag pattern forming on the 30-minute chart and watch for opportunities to enter short positions. Keep an eye on the daily chart for additional confirmation of this bearish outlook as the situation unfolds.

Act decisively, and ensure appropriate risk management as you navigate this bearish trend!