Gold H1 ANALYSIS

2024年12月6日

Gold Price Action: False Breakout and Reversal

Gold prices experienced a significant drop of 200 pips earlier today, breaking below yesterday's range. However, in a surprising turn of events, prices have since reversed and returned to the same level as yesterday.

This price action suggests a false breakout, where bears attempted to push prices lower but were ultimately unsuccessful. The reversal back to yesterday's range indicates a lack of conviction among sellers and potential buying interest.

Key levels to watch:

Support: $2632 (yesterday's low)
Resistance: $2654 (yesterday's high)

Target : $2600 today

The false breakout and reversal may indicate a potential trading range or consolidation phase in Gold. Traders should be cautious and watch for further developments, as prices may continue to fluctuate within this range."

Best Wishes Tom 😎

2024年12月6日

交易進行

20pips instant our gold setup

2024年12月6日

交易結束：目標達成

Gold reached at $2624 is it enough