GOLD/ Bullish correction to 2612
GOLD
Technical Analysis
The price will touch 2612 to do the bullish correction and then should break 2612 by closing 4h candle above it to be a bullish trend till 2625
Bearish Scenario:
The price may retest the resistance levels at 2612 before resuming its decline. A drop is expected towards 2588, and if this level is breached, the downward momentum could extend to 2558.
Bullish Scenario:
To confirm a bullish reversal, the price must decisively break above 2612. This breakout could pave the way for an upward move targeting 2625.
Key Levels:
Pivot Point: 2588
Support Levels: 2612, 2625, 2644
Resistance Levels: 2576, 2558, 2526
Trend Outlook:
- Bearish by stability below 2588 and 2558
- Bullish Correction till 2612
Technical Analysis
The price will touch 2612 to do the bullish correction and then should break 2612 by closing 4h candle above it to be a bullish trend till 2625
Bearish Scenario:
The price may retest the resistance levels at 2612 before resuming its decline. A drop is expected towards 2588, and if this level is breached, the downward momentum could extend to 2558.
Bullish Scenario:
To confirm a bullish reversal, the price must decisively break above 2612. This breakout could pave the way for an upward move targeting 2625.
Key Levels:
Pivot Point: 2588
Support Levels: 2612, 2625, 2644
Resistance Levels: 2576, 2558, 2526
Trend Outlook:
- Bearish by stability below 2588 and 2558
- Bullish Correction till 2612
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