GOLD / Bullish Momentum Aims for Higher Targets

٢١ يونيو

Technical Analysis: Gold

The price has risen from 2323, as mentioned yesterday, and has successfully reached our target of 2357.

• Current Outlook:
  The trend remains bullish today, with the price stabilizing above 2357 and 2362. As long as it stays above these levels, it is expected to reach 2377 and 2386.
  
  
• Bullish Scenario:
  As long as the price trades above 2357 and 2362, it is likely to maintain a bullish trend towards 2377 and 2386. A break above 2386 could extend the bullish trend to 2397.
  
  
• Bearish Scenario:
  A 4-hour or 1-hour candle closing below 2357 would indicate a downtrend, with the price expected to trade in the bearish zone between 2357 and 2344.
  
  
• Key Levels:- Pivot Line: 2357
  - Resistance Levels: 2377, 2386, 2397
  - Support Levels: 2344, 2333, 2323
  
  
• Today's Expected Range:
  The price is anticipated to move between the support at 2357 and the resistance at 2386, with a bullish tendency.
  
  Summary
  Gold has reached 2357 from 2323. Today’s outlook is bullish if the price stays above 2357 and 2362, targeting 2377 and 2386, potentially reaching 2397. A close below 2357 may turn the trend bearish towards 2344. Expected range: 2357 to 2386 with a bullish bias.
  
  previous idea: