Gold has reached a strong demand zone around 2882/2878. After a sharp decline, price action shows signs of reversal, with potential bullish momentum building up.
Price is expected to rebound from the support zone and push towards key resistance levels:
✅ Target 1: 2894
✅ Target 2: 2907
A bullish engulfing candle or a strong rejection from the support zone could validate the move.
Breaking above 2894 may accelerate the bullish momentum.
⚠️ Bearish In-validations:
A breakdown below 2882/2878 may signal further downside to 2863, the next strong support level.
Look for confirmation before entering a long trade.
Use a tight stop-loss below the demand zone for risk management.