GOLD / Bullish Momentum Aims for Higher Targets
Technical Analysis: Gold
The price has risen from 2323, as mentioned yesterday, and has successfully reached our target of 2357.
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.
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~6 analyses per day. With a clear entry point
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