Gold Reverses from Pivot Line, Bearish Trend Expected

2024年7月18日

Gold Price Analysis: Reversal from Pivot Line

Gold prices have reversed from the pivot line, which has now established a strong resistance at 2475. Stability below 2466 will likely support a decline towards 2450 and 2440 today.

Bullish Scenario:
For a bullish trend, the price needs to break above 2475 and stabilize. If the price can hold above 2475, it may advance to 2488. Further stability above 2488 would set the stage for a move towards 2526.

Bearish Scenario:
As long as the price trades below 2466, it is likely to drop to 2450 and 2440. A break below 2440 could drive the price further down to 2420.

Key Levels:
- Pivot Line: 2466
- Resistance Levels: 2475, 2488, 2502
- Support Levels: 2450, 2440, 2420

Today's Expected Range:
The price is anticipated to fluctuate between the support at 2420 and the resistance at 2488, with a bearish inclination.

2024年7月19日

交易結束：目標達成

reached the target

The next update will come....

2024年7月21日

註釋

there is a small retest till 2416 or 2420 and then will running at the bearish trend