XAUUSD / Bearish Trend Below Key Level 2420

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Technical Analysis: Gold

The price exhibits a bearish trend as long as it trades below 2420, targeting 2397. Stability above 2420 would indicate a continuation of the bullish trend while remaining below this level suggests a further decline.

Bullish Scenario:
The price needs to break above 2420 to enter an uptrend, with targets at 2429 and 2439.

Bearish Scenario:
As long as the price trades below 2420, it is expected to drop towards 2408 and 2397. A break below 2397 would further confirm a bearish trend, potentially reaching 2387.

Key Levels:
- Pivot Line: 2420
- Resistance Levels: 2429, 2439, 2450
- Support Levels: 2408, 2397, 2387

Today's Expected Range:
The price is anticipated to fluctuate between the support at 2387 and the resistance at 2429, with a bearish tendency.

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ملاحظة

the price will try to touch 2439 and 2450 as well