Gold Market Analysis: Both Scenarios Explained

2月16日

Gold Market Analysis: Both Scenarios Explained

On Friday, gold encountered strong resistance at the $2940 level and moved down aggressively in a "V" shape reversal without confirming a bearish wave. The only selling opportunity was near the resistance zone. Currently, the gold position indicates potential for both upward and downward moves.

Bearish Scenario:
In the bearish scenario, the market remains risky. The price must break down through the red zone to provide a minimum confirmation for the bears. Should this occur, further downward movement may target levels of $2840, $2812, and $2778.

Bullish Scenario:
Conversely, the price is already positioned above a strong support zone, allowing bulls to push the price upward without confirmation. Considering the strength of the support zone and the extremely bullish trend, gold could rise again with a "V" shape reversal. If this occurs, target levels would be $2902, $2915, and $2935.

You may find more details in the chart!
Thank you and Good Luck!

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2月18日

交易進行

GOLD: The bullish scenario played out well. The price followed the prevailing trend.