GOLD at Critical Resistance Level

The price has steadily risen and is now trading near the significant resistance level of 2787. A decisive break above this resistance, especially with a 4-hour candle closing above it, would confirm the continuation of the bullish trend. Such a breakout would signal strong buying momentum, paving the way for the price to reach the next target at 2816, a new high level. This scenario reflects a continuation of the current upward movement, indicating sustained bullish sentiment in the market.

On the other hand, if the price fails to break through 2787 and reverses downward, it may signal a shift in momentum. A stabilization and subsequent 4-hour candle close below the 2757 level would indicate the beginning of a bearish trend. In this case, the price could face increased selling pressure and head toward lower support levels, with the initial targets being 2732 and 2697. This bearish scenario would become more pronounced if the price continues to trade and stabilize below 2757, confirming a reversal from the recent highs.

Tendency Keys: 2757
Resistance Line: 2787, 2816
Support Line: 2732, 2696, 2666