Gold Slips Amid Profit-Taking; All Eyes on U.S. Inflation Data

١٣ أغسطس

Gold Drops on Profit-Taking as U.S. Inflation Data Looms

Technical Analysis: Gold

Current Outlook: The price advanced as predicted, and to maintain the bullish trend, a break above the all-time high (ATH) of 2,475 is necessary to target 2,484 and 2,493.

Bullish Scenario:
The price needs to break above 2,475 to confirm a bullish trend towards 2,484 and 2,493. Surpassing this level could initiate a strong bullish movement.

Bearish Scenario:
Stabilization below 2,466 may trigger a decline to 2,450, indicating a potential for a strong bearish correction.

Key Levels:
- Pivot Line: 2,466
- Resistance Levels: 2475, 2484, 2493
- Support Levels: 2452, 2440, 2428

Today's Expected Trading Range: The price is anticipated to fluctuate between 2,484 and 2,450.

Tendency: Bearish Correction down to 2,450

previous idea: