GOLD Reached the support line and still bearish...
Gold Technical Analysis
The price is expected to stabilize within the bearish zone, targeting 2603 as long as it trades below 2636. It may attempt a corrective move towards 2631 or 2636 before resuming a downward trend to break 2623 and reach 2603.
A 1-hour candle closing below 2623 will further strengthen the bearish momentum towards 2603.
Key Levels
Pivot Point: 2623
Resistance Levels: 2636, 2650, 2665
Support Levels: 2603, 2590, 2585
Trend Outlook
Consolidation: Between 2623 and 2636
Bullish Trend: Above 2636
Bearish Trend: Below 2636 and 2623
previous idea:
The price is expected to stabilize within the bearish zone, targeting 2603 as long as it trades below 2636. It may attempt a corrective move towards 2631 or 2636 before resuming a downward trend to break 2623 and reach 2603.
A 1-hour candle closing below 2623 will further strengthen the bearish momentum towards 2603.
Key Levels
Pivot Point: 2623
Resistance Levels: 2636, 2650, 2665
Support Levels: 2603, 2590, 2585
Trend Outlook
Consolidation: Between 2623 and 2636
Bullish Trend: Above 2636
Bearish Trend: Below 2636 and 2623
previous idea:
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